Forum Discussion
Gdetrailer
Feb 14, 2014Explorer III
dadmomh wrote:
Don't think the OP was asking for financial counseling, but rather some insight as to suggestions for a lender. Ours is not to question why.......
The OP (and a few others) REALLY NEEDS to hear things like this, after all, dumb financial moves is what drove the housing boom into the ground leaving MANY people who could not afford the homes they bought ultimately no longer LIVING in those homes due to foreclosures.
Cheap credit offered to anyone who could sign a form, they could buy housing for as much as ten times the income they had coming in is just plain bad.
I am not saying credit is a bad thing, however credit used in a bad way is a bad thing. Buying a depreciating asset (like a RV) is not a NEED, no it is a WANT. Therefore EXTRA CARE must be taken to not dump bunches of money into a depreciating asset.
By trying to find a "lender" which is willing to loan more than 60 months on a depreciating asset the OP IS NOT doing themselves a "favor".
I believe the folks who like myself have been giving good sage advice that it is not a good idea are doing so because we do not want to see someone ultimately fail or lose more money...
You would have to be cold and callous to not call out a bad move..
But like I mentioned before, it is your money do what you will with it... But I would not consider doing so...
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