Has anyone ever lost their RV to a debt collector or judgement?
rjenkins said
06:50 AM Dec 27, 2009
I don't know how easy or hard it would be but it seems like it can and is being done. A quick google on 'rv foreclosures' brought up many websites that offer to the public foreclosed rv's:
http://motorhome-rv.org/rvforeclosure.aspx
Don't click on the 'questions' part of the website, it takes you no where but on the left hand side the links are working and it tells you all about it.
Luvglass said
07:19 AM Dec 27, 2009
I would think that it would be considered like any other vehicle or posession and be subject to confiscation for non payment of debt.
TxYellowRose said
09:16 AM Dec 27, 2009
One of our tenants had their Class A repo'd last month.
Racerguy said
09:30 AM Dec 27, 2009
Basic economics,if you borrow money to buy it and don't pay you should lose it.
markanizer said
10:26 AM Dec 27, 2009
I agree. Never buy what you cannot pay for. With a Motor Home, it may not be considered a permanent home. And even if it was, a lien can be filed against real property too.
thebearII said
03:03 PM Dec 28, 2009
Have seen many RVs lately advertised as repo or bank owned units. So it definitely will happen.
I imagine just like with houses, quite a few folks probably owe more now than what their RV is worth if sold. The RV business is suffering from the bubble burst just like the rest of the retail market.
Has anyone ever lost their RV to a debt collector or judgement?