Bank has no title and we need one to refinance

[tapcap799]

We live in New Jersey. We financed our mobile home from TD Bank. Now we have a chance to refinance at a lower rate and get my Dad's name off the loan. We have sent numerous faxes and called TD Bank many times. Each time a different answer or told to call another department. According to NJDMV the lien holder has to get the title and TD Bank is lein holder. What can we do now? I can't believe the nightmare we are going through..

[David Oxhandler]

I have never heard of any lender offering a loan on a manufactured home with out securing the title.

In the State of New Jersey, a mobile home must be titled within 10 days of purchase or face a penalty fee. Visit the dealer that sold you the home. They should have copies of the title work. OR contact your local office of the New Jersey Motor Vehicle Commission or the main opffice at P.O. Box 160, Trenton, NJ 08666, (609) 292-6500 or toll free in NJ (888) 486-3339. If you have a serial number they can trace the title work.

[tapcap799]

HI, We are in the process of doing that. I contacted Motor Vehicle and they said that the lein holder should of gotten the title. Other wise if we had the title and re titled it they would not be on it at all. Therefore we would not owe then anything. All we have gotten is a run around. TD bank sent me a packet of info of steps to obtain the title from Motor Vehicle. Such as advertising in the paper, etc. I think at this point we have to get a lawyer..

[David Oxhandler]

If the bank cant find the title they may not have a legal lien on the home. In most states a copy of the title, along with the lien statements can be purchased. These things are a matter of public record. If there is no public record of the lien how can the bank prove you owe then anything? I think at this point a lawyer may be the right move.