Well the truth of the matter, is that motorhome repossession is 100% avoidable. The way to avoid motorhome repo, it simply by paying the amount the lender requires of you every month, and paying that amount on time. There are many ways to sell your motorhome quickly, if you cannot afford to keep on making the monthly payments.
The first way is to sell the motorhome as a short sale. This means that you are going to try to sell repossessed motorhomes for less than it is worth. This will allow you to sell the motorhome quickly. A short cell means that someone will be losing money on the deal. A lot of times it is the seller themselves. They agreed to sell the motorhome for less money than it is valued at. Sometimes however, it is the lender, who agrees to take less for the motorhome then the motorhome is worth. In order for a short sale to work, and it is vitally important for the seller and the lender, to agree to the final selling price. If the lender agrees to take payment as payment in full, they will often also agree to sign a form that will allow you to not have to pay them back. But, they will often also makes you responsible for the loss and you will have to record it as again when you file your taxes. Each short cell is different, it is important to understand all of the repercussions and conditions before going into one. In a short cell also negatively impacts your credit. If you can avoid short cell this is usually the best choice. A short sale, is still a much better option then having a foreclosure or a bankruptcy on your record. In addition, a bankruptcy of a foreclosure will last longer. A short sale is a better deal then having the motorhome go to an RV auction.