โSep-09-2013 10:07 AM
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โSep-11-2013 05:15 PM
westernrvparkowner wrote:
If you want out, go to your local bank or credit union and get a loan to cover the difference between what you can sell it for and what you owe. Then sell the sucker.
โSep-11-2013 04:53 PM
โSep-11-2013 04:24 PM
timmac wrote:No!!! Actually, that is not a risk they take. They came to the bank to borrow money to buy an RV and they agreed to pay it back. The credit risk the bank took was if the customer somehow became UNABLE to pay it back or the bank makes a bad credit decision based on the customer's character.
Also don't feel bad about giving it back to the bank, that's the risk they take and they know this.
โSep-11-2013 03:50 PM
โSep-10-2013 08:07 PM
starduster67 wrote:
I thank you all for your responses. All were pretty much what I already knew but it never hurts to ask. I will never give up my house that's why I got out of the big RV we couldn't handle it anymore. Why would I take another loss. No I'll just keep paying because we come from a generation of folks who pay our bills. Mistakes must still be paid for in the end. I knew all along there's no honorable way out don't know why I asked. If any good comes out of my mess its maybe other RVers might think twice before getting into my situation. Bigger and newer is not always better. Do not fall for that 20 yr loan it costs so much more in the end and with the new owner excitement you wont realize it till about a year later when you see holy cow all my payments are interest and only a few measly $$$$$ went to the principal. The tax deduction isnt worth beans. Haha maybe some day I'll hit a lottery or I'll live long enough to pay it off, I hope so. I do have a sense of humor folks. Who knows ๐
โSep-10-2013 07:22 PM