timjcarter9 wrote:
sherpaxc wrote:
I stand by my statement. Sell it, cut your losses, get your savings built up, then buy something used and less expensive. It is a hard pill to swallow, but I think it is the right pill.
Sorry - but this has to be one of the dumbest things I have ever read. Seriously.
Not a dumb thing at all, I'm not saying the OP should do this because it would be a very difficult and personal decision. However I do understand the concept and it can work.
The OP plans on using a seasonal site and not towing regularly. Most campgrounds with seasonal sites already have a number of older units for sale, parked and ready to use.
The OP takes out a personal loan for the gap between equity and debt plus the cost of an older unit parked and ready to go. Let's say it is $7,000. They now have a much smaller debt that can be paid off much quicker and with less interest. They don't give up anything of the camping experience but just may have more time to spend with the family.
Another option would be to take out a personal loan for the gap between equity and debt, and camp in a tent. Still camping, much less debt.
Like the Good Book says; "The rich rule over the poor, and the borrower is slave to the lender." It really is true.
