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upside down Debt . What can we do ?

Posted on: 20th Dec, 2007 06:11 pm
I bought a motorhome in1999 and and I was told at the time I bought it The Blue Book for the new Home was 72,000.

I find out when I tried to sell it This year that it is upside down by 20,000. What Can I do, anything?
Hello Gladyslanham,

Do you have a mortgage on the motorhome? How much do you owe still now?

If the market for motorhomes has gone down then either you have to wait for sometime to get a reasonable price or you may have to do a short sale.
Posted on: 20th Dec, 2007 10:18 pm
Hi Gladyslanham,

Have you yet default on your mortgage? If not why do you want to sell the motorhome now?

I think it is better if you wait until the market gets stabilized and you get a good price for your home.

Thanks,
Larry
Posted on: 21st Dec, 2007 05:03 pm
I sir am on afixed income and have reached my 70th birthday and have a
sever case of copd. Due to medical cost , food prices and the cost of fuel
I no longer can afford the payment.
Posted on: 23rd Dec, 2007 06:08 pm
Hello Glad,

Did you take the help of any real estate agent to sell off your motorhome?

I think they can help you to get a good price for that.
Posted on: 24th Dec, 2007 04:25 am
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