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land as collateral

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zimowa boniface

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Post Posted: Thu Dec 15, 2011 10:22 am    Post subject: land as collateral
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What if the landholder does not have title deeds,can it be used as collateral security?
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Post Posted: Fri Dec 16, 2011 2:05 am    Post subject:
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Hello zimowa boniface,

It is possible to get a loan using only a good credit score as collateral. If you do not have good credit, it is still possible to get a loan without collateral, but you can expect to pay a much higher interest rate. It is also possible to use a vehicle or property as collateral.

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Post Posted: Fri Dec 16, 2011 10:29 am    Post subject:
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No
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Raymond Denton
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Post Posted: Wed Jan 04, 2012 4:48 pm    Post subject:
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Deeds are normally recorded in county records. No need to retain the original copy. If the land was correctly deeded to you AND the deed was recorded, you should be OK.
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