Underwater loan
I'm really red faced to even ask but if anyone has any ideas I'd be happy to hear. Like many seniors we bought a new Class A when retiring. Things were good back in 2001and we were full timing. Put a ...
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If you do call and tell the bank or credit union to come get it...be prepared. They will do just that, and then will auction it off to the highest bidder, add fee's on what is left and set up a monthly payment for you till its paid.
It still messes up credit. I had a 1998 class "C" that I had $500 payments on...had a family situation and had to settle down from full timing rather quickly. I owed like $50K still and tried to sell myself for 8 months.
Didn't get a buyer so had bank take it...I couldn't continue monthly payment. Ended up with a $150 monthly debt still owing $10000 on it....finally refinanced my home after a couple of years and settled it at a lower amount! Good Luck!
It still messes up credit. I had a 1998 class "C" that I had $500 payments on...had a family situation and had to settle down from full timing rather quickly. I owed like $50K still and tried to sell myself for 8 months.
Didn't get a buyer so had bank take it...I couldn't continue monthly payment. Ended up with a $150 monthly debt still owing $10000 on it....finally refinanced my home after a couple of years and settled it at a lower amount! Good Luck!
