October 3, 2009

Recreational Vehicle Short Sales

I am estimating I am upside down $30-40k in a 2004 RV with low miles. I have about $30k in CC debt. I own no home. I have good credit and have never been late on rv payment.

Will they consider a short sale if I have a bit of a nest egg in my SEP account? It is my only retirment.

Jen

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Hi Jen,

A creditor will consider a short sale when the debtor has retirement funds. We typically write ‘survives bankruptcy’ instead of listing an actual dollar amount on the financial statement.

Read: Short Sale & Retirement Accounts

Thanks for the questions and hope this helps.

Paul

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