Quote:
Originally Posted by Joker
you have access to them because the bank owns the title to your house/car...
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most certainly NOT!
the legal mechanism is called a
lein. the bank places a lein against your collateral to secure the loan in the case that you default. the lein doesn not mean they hold title or possession. it means that you cannot sell it without informing the buyer of the existence of the lein and, should you default, the lender can take possession in leiu of your debt.