starkruzr wrote:
Old-Biscuit wrote:
The loan institute will KNOW that you have changed addresses and are now FTng by the mail forwarding address.
ALL of them are KNOWN byy banks, savings/loans, investment and INSURANCE institutes.
Mail forwarding address recognition is NOT a secret
So you MAY run into issues when you go FT AFTER getting loan and the required insurance
And you will need FTrs insurance coverage when you do go FT vs just liability/comp/collision as loan requirement.
FTrs insurance is an auto policy combined with a Home owners type coverage policy.......as the RV will be your home
National Interstate was the FTrs insurance we used. Good coverage, great service, decent pricing and very easy to work with when you have a claim(s)
Thanks for the insurance heads-up! This is good stuff to know.
I guess I don't understand what "issues" I could run into going FT after getting the loan and insurance. Either the bank wants to make the loan for the sum asked for or they don't. What are they going to do? Try to repo my RV when I'm paid up for the month? Under what authority? "We don't like that he left his former address!" Not sure how it's any of your business, Mr. Banker!
Don't expect to have any issues with changing residencies. Idk where these notions come from....maybe old timers who've lived in the same spot for a long time, or mis handling finances or records. Just speculation.
We've moved around a bunch. And sometimes the insurance company actually tells us to not change the policy. Re-registering or titling vehicles is no more of a hassle than most trips to the DMV. And I've never found a mortgage banker or any loan office to care what the return address was on the envelope with the payment inside. And now since most pay bills online, it could come from freakin Bangladesh as long as it gets there.
I've re financed mortgages a month before moving to another state and buying another house. Bank didn't flinch. Rented out homes with homeowners mortgages not commercial loan, banks didn't care.
Figure out what it will cost you and go have fun with it.
Only possible challenge I see is how much you want to pay for a campsite and how close to the city you want to be. I wouldn't expect to camp within 1/2 hour of downtown Chicago, but in Seattle you might be able to do that. BUT you got the home on wheels. If it's not working, move.
Sounds like good times ahead!
