US Coast Guard (USCG) vessel owners must know preferred ship mortgage requirements. For new loans or refinancing, it’s critical to know what they are and how they might enhance the quality of your loan. Minimum safety and financial conditions are required for a vessel mortgage to become enforceable. Developed by the US Coast Guard in…
Are you thinking about purchasing a boat? Do you need a preferred ship mortgage with a favorable interest rate? You are not alone in your feelings! According to the report, according to a recent survey conducted by the Boat Owners Association of the United States, there are more than 15 million recreational boats in the…
When it comes to secured financing, a preferred ship mortgage is a special kind of secured loan against maritime assets, most often vessels and cargo. It is an exciting alternative for owners of ships and boats searching for financing since the interest rates are pretty cheap and several lenders provide these products. The marine sector…
Have you been concerned that you’ll soon be in a situation where you’ll need USCG documentation? Did you recently purchase a vessel and aren’t sure if it’s the right situation for you and your vessel? Over the years, here at the Maritime Documentation Center, we have helped so many vessel owners who are in your…
Do you have an eye on a vessel that you’d like to buy, but you aren’t sure if you’ll be able to afford it? Would you like to get financing for a vessel that you plan on documenting with the Coast Guard? If you’re going to get your vessel documented, you may be eligible for…
The Preferred Ship Mortgage provides a lender or financier of a vessel competitive status among competing claims that might arise against a vessel. The U.S. Coast Guard acts principally as a recording agency in regard to mortgages and related instruments. It’s important to learn about it if you happen to finance someone’s ship after he/she…
Have you been checking a vessel out but aren’t sure if it’s the right one for you? Does your research tell you that everything is on the “up and up” when it comes to this vessel, but you want to be certain? That makes all the sense in the world. A vessel is an investment,…
Have you been looking for a way to get financing on your vessel? Does it seem like getting your vessel documented is something that could benefit you, but you aren’t sure about all of the specifics? If so, you’re in the same position that so many vessel owners have been over the years. You’ve found…
The “Preferred Ship Mortgage” is one of the ways that you can go about securing boat loans. Typically, this particular kind of mortgage is for vessels that are over 26 feet in length. For boats that are smaller than that, the title and a notation of the security interest recorded on the title should be…
Finding the capital to fund your purchase of a yacht or vessel will often mean taking out a loan from your bank or credit agencies. Finding this type of financing often means making use of a preferred ship mortgage. This type of mortgage is unique to maritime lenders, and the lien which is placed on…
IMPORTANT LINKS: FOIA | USA.gov | U.S. Department of Homeland Security | DHS Office of Inspector General | WhiteHouse.gov | MHS Notice of Privacy Practices
