Turn in motorhome back to bank
Has anyone got some information on what happens and how bad it is to turn your motorhome back over to the bank? I have a 2006 Allegro Bus that I have been trying to sell for a couple of months with n...
Forum Discussion
Tom/Barb wrote:donn0128 wrote:
Lower the asking price to a more reasionable number. Letting finance compane take it back is ALWAYS the last worst option. Besides still having to pay off the loan balance, your credit will also take a huge hit.
if it sells for less than the note, he will be required to cash out the balance, because the bank will not sign off on the title.
True, but the OP would at least have a fighting chance. Turning it back to the bank, the bank will whosale it and he will still be on the hook, just a lot deeper
