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What can be attached for payment in a repossession of a motor home?
Wiki User
∙ 12y ago
First and foremost, the vehicle. When repossessed, it will be sold and the proceeds will be applied to the debt.
Depending on the state, the lender may (if a judgment is obtained) attach your bank accounts: checking, savings, certificates of deposit, mutual funds, dividends paid on stocks and bonds.
Also depending on the state, state income tax returns may be attached.
Liens may be put on other property.
If you have other vehicle loans with the same creditor, they may petition the court for a conversion of collateral and repossess and sell these other vehicles. This may also be done in the event you have a vehicle or vehicles owned out right.
Wiki User
∙ 12y ago
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What happens when you give an upside down motor home that you can't afford the payments on back to the bank?
The bank will sell the motor home for whatever they can get. You will then be responsible for the balance left on the loan. For instance if the payoff is $10,000 on the motor home and they sell it for $$7,500 then you will still have to pay the bank $2,500 plus any fees associated with the sale and loan. Your credit will then be ruined for 7 years. But this is better than a repossession where you would have to also pay repossession fees. Sit down with a loan officer at the bank and see if you can work something out. They do no want to repossess it anymore than you want to loose it.
Where is the OBD1 connector for a 96 Southwind class A motor home with 7.4 Ford motor?
attached to the steering coloum , about halfway down, it has a small plastic cover over it
What are the laws in Florida on manufactured home repossession?
In Florida, manufactured home repossession is typically governed by the Uniform Commercial Code (UCC). The lender must follow the specific provisions outlined in the UCC for repossession, which may include providing notice to the borrower and following proper procedures for taking possession of the home. It is recommended to consult with a legal professional for guidance on the specific laws and procedures in Florida regarding manufactured home repossession.
If you have a voluntary repossession can they take your home?
NO, they can attach a lien to be paid FIRST if/when the home is sold.
Manufactured home repossession law in state of Oregon?
repossess manufactured home in oregon
Who do you turn to for repossession advice on your home.?
A lawyer...only and always.
What is a repossession order used for?
In a repossession order, a lender can repossess one's home if the court approves and grants permission. The judge could either set the case aside or give a repossession order.
How long does it take to repossess a home?
To answer your question simply, a repossession order will typically be a 60 day repossession order. If however you do not contest the repossession or don't turn up to the hearing it is more likely to be a 30 day repossession order. However, you are not clear if you have even received a notice of intended court action or a court date. There is no hard, fast, rule which states when each lender will start repossession proceedings, they can be after just 1 missed payment - the average is between 2 and 3 missed payments. This answer above has been copy & pasted from http://www.repossession-stoppers.com/answers/how-long-does-a-house-repossession-take.htm which is a UK site So if you are from outside the UK it may be different...
What type of towing equipment do we need to tow a Honda Fit automatic behind a class c motor home?
The best way to tow any vehicle behind any motor home is a trailer for so many reasons but two big reasons are, backing up the motor home with the towed vehicle attached and double maintenance on the towed auto plus motor home. Trust me your WAY ahead with the trailer .... PLUS, you will need a class 3 hitch installed on the back of your motor home.
How can you protect your attached home when your neighbor is foreclosed on?
Protect your home from what? What do you mean by attached home?
What are the laws in Michigan on manufactured home repossession?
If a borrower defaults on loan payments for a manufactured home in Michigan, the creditor can take the manufactured home. If the manufactured home is real property the repossession and foreclosure is on the manufactured home alone. If the home is being used for residential purposes, the home is repossessed according to personal property laws.
Can a 1993 Mercury Villager minivan be towed behind a motor home?
It can be, but I would use a tow dolly to keep from building a custom tow bar attached to the van.
