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Customer Question

I need to understand how German law works regarding collateral for a mortgage loan.

My client is an American living in Germany under DoD SOFA. They got a mortgage in 2005 to build a home and had to put down cash collateral for the loan.

What is the nature of the collateral under German law? Does the bank have a lien on the cash? Does German law consider the cash "transferred" to the bank's control. If if this is a lien, how does this lien compare to American lien vs title theory of loans?

 



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Submitted: 367 days and 1 hours ago.
Category: German Law
Value: $45
Status: CLOSED
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Expert:  Fran-mod replied 366 days and 17 hours ago.

Hi, I’m a moderator for this topic and I wonder whether you’re still waiting for an answer. If you are, please let me know and I will do my best to find a Expert to assist you right away. If not, feel free to let me know and I will cancel this question for you. Thank you!

Customer replied 366 days and 17 hours ago.

yes i am still waiting.

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Expert:  Fran-mod replied 366 days and 10 hours ago.

Sometimes, finding the right Expert can take a little longer than expected and we thank you greatly for your understanding. We’ll be in touch again shortly.

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Expert:  Fran-mod replied 365 days and 9 hours ago.

Thank you for your patience, your business is very important to us, we are waiting on the Expert with the right expertise to come online. Feel free to let us know if you would like us to continue searching for a professional or if you would like us to close your question. Thank you for your understanding!

Customer replied 365 days and 9 hours ago.

just refund it and close it out. it's too late now.

 
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