Join Date: Jun 2005
Location: Barnegat Bay, NJ
Thanked 56 Times in 52 Posts
Rep Power: 12
I doubt a Grampian 26 is worth enough to use as collateral for a loan on the Dockominium.
|Originally Posted by JimMcGee |
I was told it's against banking regs in NJ, so it may vary state to state. Here you have to either take an equity loan against your house, or a loan against your boat - assuming it's worth more than the slip.
Sailing Dog, that was intended as a general statement about the rules here. But then it seems like everything is more complicated in the People's Republic of New Jersey.
95 Catalina 30 Island Time
“The sail, the play of its pulse so like our own lives: so thin and yet so full of life, so noiseless when it labors hardest, so noisy and impatient when least effective." - Henry David Thoreau