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    My husband died of asbestos related cancer three years ago. 12 years ago we bought a motorhome, which we financed through BofA, still owe $75,000 on it, upside down. Bank won't work with me since it is RV. Everything I ow is tied up in a living trust. If I let the motorhome go back can the bank attach the trust?

    0  Views: 413 Answers: 3 Posted: 12 years ago

    3 Answers

    what arre yor payments have you considered letting some on eles take over payments for you my sone and I are in need of something to live in i have a lot but nothing to put on it my husband left me for someone eles a munth ago and we have been sleeping in a tent on our lot if intrested i have an alternet email    lisa_haskins50@yahoo.com


     

    Sandy W.

    Payments are $850/mo. You would have to park it in an RV park where the rent can be pretty high too.

    I don't know if they can attatch a living trust- that would be a scum bag thing for them to do.  This happens to people all of the time- waiting for insurance $ or probate is pretty typical.  I think it's time to go higher up the food chain of Bank Of America.  Otherwise, borrow the money from a friend or relative and pay on the RV until the $ is squared away with the trust.

    Sandy W.

    Thank you for the comment. Not sure where the idea came that any probate is in the waiting. I set up the trust to prevent a probate at the time of my death. No insurance$ involved either. Just me and the bank now.

    Good grief, how much did you pay for it ? I'm no motor home expert but I do know that they depreciate like a car, not like a home.


    If it is still in very good condition, I would have it appraised to begin with. If it's anything close to 75K, get rid of it as soon as you can. Otherwise, look into re-financing the existing mortgage. Sounds like you have several years left on the deed.

    Sandy W.

    It is a diesel pusher, 40 1/2 feet long. Very beautiful and bought it used. We traveled some in it before we found out the cancer dx. It is appraised at the price I owe, however, the bottom dropped out of RVs just like the home market. Thanks for the comment.


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