MH Financing, over 10 years old
I need to refinance my RV to clear my ex wife from liability etc. The MH is a 2004 and over ten years old. All the RV specialty finance companies stop at 10 years. Any suggestions for refinancing of...
Forum Discussion
jorbill2or wrote:
Not BS .. He and his wife signed a document agreeing to pay.why would the lender let one person out of that agreement ? Ever been divorced ? Courts don't dismiss the debt , it's not a bankruptcy .....they can enforce reassignment of the asset but not of the contract Been there , got that medal !!! Divorces are ugly . the court doesn't force the bank to remove a name it forces the parties to do what he's doing !
.His choices are1- talk the bank into taking the exes name off .. He would need really good credit to do that!!! 2 - refinance . 3- Talk the ex into continuing to allow her name on the debt ( absolutely a very dumb thing for her to do .. One of them can file bankruptcy and ruin the other . and finally and most likely SELL the asset and get out from under the debt .. Probably the action needed. Sell , make up the difference if needed and move on.Suck it up The cold hard truth of dissolving a " financial" partnership.
Just speaking from working 20+ years in the banking industry. We do it all the time. Most banks will/should attempt some method of customer retention. Usually just involves continued qualification of the debt. Something any other bank will do anyway. If he can support it somewhere else, the current lender should be able to support the change.
