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Mortgage Community Forums | Loan Talk for First Time Home Buyers | Reselling property with installment loan against

Reselling property with installment loan against

Posted on: 17th Oct, 2010 09:35 am
I have a houseboat I am paying an installment loan on. Is there any legal way I can sell the boat without paying off the loan and just let the buyer pay me and I continue to make the payments to the bank. I am in Georgia.
if you sell off the boat to someone else and if the lender comes to know about it, he may call the mortgage due immediately. if you want to sell the property, then you'll have to ask the new owner to refinance the loan immediately.
Niicss
Posted on: 18th Oct, 2010 04:39 am
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