Quote:
Originally Posted by AC2717
can you put property that you have a note on in a trust, or more than likely have to go the note holder to see if they would allow it?
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We just redid our line of credit, which was at the end of the 10 year life, and got a new home equity loan.
Everything we own is in the name of the trust, and has been since 2001. We did have to furnish a copy of the trust. I had more of a problem with the bank taking my retirement as income. They wanted proof that my retirement was guaranteed for at least 3 years from now.
Trusts are very common today, and every once in a while we run into a problem. Toyota Financial didn't want to give us a loan on my Corolla, so we told the dealer to pound sand and that we would get a loan, and different car somewhere else.
An hour and a half later, and two faxes of our trust agreement, we had our loan. Funny side note. They would not take our PO Box as an address and insisted on a street address. We gave them the street address, waited one week, and called customer service. Told them we weren't getting any mail from Toyota because we do not get mail at our house. The CSR took our PO Box, made the change, and we had no problems for the life of the loan, just paid off this past year.
We must have been the only Toyota Financial customer that had a PO Box.
