Question about a secured loan?

I have a 2003 Fifth-Wheel R.V. that is paid for. It's value is about $38,000.00. I would like to use it as collateral for a $13,000.00 personal loan. The R.V. is titled to both myself and my wife. My wife is out of town for the next several weeks but she did sign the title before she left. Will it be a problem for me to process this loan at the bank or will she have to be present? (The loan is in my name only!)

Answers:
It shouldn't really be a problem as it is joint property and in most cases a spouse is able to act on the other's behalf. But posibly in considering the loan they may question why you need a loan on a vehicle you just payed off not long ago. Why $13,000 now and it can't wait a few weeks.

But even if they say they want her there you can work around this. Whatever relevant document that require her signature can be faxed (or even sent one day mail). She can sign them and have it notarized at any bank. She can one day mail them back.

Slightly related, useful and necessary is having a power of attorney for each of you. Not only for this sort of thing but in case something should happen to either of you. Yes the spouse automatically has rights but a POA will help tremendously with medical claims, insurance, property, etc. etc.
You can sign the title if it is joint ownership
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http://www.best-ranks.com/secured_loans.

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