Selling a rig your upside down on
Like many people, we are over our heads. We have a really good 2012 Keystone Cougar Xlite 29RES, that we owe $30,000 on. However, it retails for closer to $25,000. Trade value is considerably less. S...
Forum Discussion
NCWriter wrote:GrumpyandGrandma wrote:OutdoorPhotographer wrote:
I concur with folks who suggest trying to get a personal loan for the gap. It's not an ideal solution but obviously you're trying to find the best option. If you price it high, you will have to keep making payments while it depreciates even further.
Good luck!
Do you have the equity in your house, get a home equity loan and pay off the difference in the FW. Interest is still deductible that way.
I think many financial advisors would disagree with advice that would put his home at risk if he couldn't make payments.
An equity loan for the "DIFFERENCE" not the total amount would lower the payment amount drastically since in many cases the only amount due is the interest each month. That would give him time to get his debt restructured.
