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Trends in the marine credit market might not be stellar, but they are encouraging. Credit is available for boat loans, interest rates are at historic lows, loan criteria are easing a little and a few more lenders are getting into the market, financial consultant Jim Coburn says. “If a Continue Reading

Regulations regarding citizenship requirements for documentation pertain to specific vesting scenarios, and may change without notice. The general citizenship requirements are as follows: Individual Owners: Vessel owner must be a US Citizen. Ownership may be held as follows: Tenants i Continue Reading

The benefits of federally documenting an eligible vessel are vast. Many marine lenders require that their collateral be documented in order to secure their interest by way of a recorded First Preferred Ship’s Mortgage. More often than not these days, if the vessel can be documen Continue Reading

Don’t take a 401K loan 401K loans are fairly easy to get from a plan. There is no credit check because the loan is basically secured by cash. You can usually request online and have the money deposited directly into the bank account. You can pay them back on a schedule with payr Continue Reading

Boat loans can be deductible from income tax  under some situations For Federal tax purposes  a boat loan t may be deductible as a second home. The basic requirements are that is has a galley, an installed head,and a sleeping berth. If a boat meets these requirements and the owner has Continue Reading