VIN 3FCMF53S2XJA24240 Clear Choice RV's
In early Aug I put a deposit on this RV and took this vehicle to "Mike Thompson RV" in San Bernadino. They recognized it as it was brought to them a month before. I paid $1000 to have this unit checke...
Forum Discussion
pnichols wrote:
Duuuuuhhh ... how's that any different than what millions of Americans have been doing the last few years when they "walk away from" (in other words - give it back to the bank) their un-paid-for homes because they were underwater with their mortgage??? The short answer is "no different" ... and yet this behavior seems to have been all too common and all too accepted throughout our land.
I agree with you about an RV, but not about a home. Most people don't walk away from a home just because they're underwater, they do it because they're out of work, can no longer afford the payment, and can't sell because they can't pay off the existing mortgage.
That happened to me about 20 years ago, through no fault of mine, after I lost my job and the local housing market tanked. The key to dealing with such a situation and avoiding foreclosure (a credit rating killer) is to go to the bank while you're still current on the mortgage, explain why you can't stay that way, and work with them to find a solution. In my case, the bank began working directly with our realtor, and eventually the house went on a short sale. The bank forgave the shortage amount (paltry by today's standards) and, after finding another job, I was able to buy another house within a year.
