I am recently divorced and as a result cannot get conventional financing from a bank to purchase an RV. And I certainly don't want to pay "loan shark" rates. That being said, I'm an independent mortgage and insurance agent and I conduct all of my business on the internet so I'm not restricted geographically.I've made a lifetime decision, after careful research and learning, to go RVing fulltime. I'm am extremely excited about starting. The one thing missing, A newer (1995 and up Class A over 30 feet) Big Rig to own and live in. If you want to sell your rig and would consider some creative financing, I'm your person. References available. Let me know and thank you for your consideration.

Tony
AdvancedMortgageConcepts@gmail.com

Call Mark at 512 632 5713
He deals in 3rd party sale or rent to own. We found him very honest and nice and he got us a good motorhome and we just make the payments to the owner. He owns Country Coach or something. He's out of Texas. Also go onto any Craigslist and put in search in RV's under owner financiang or second chance financing. Most of those people want to charge you 10% of the value of the coach for a commission but they can be talked down.
I did alot of research on this and found Mark very fair and honest
Bob

I have considered doing owner financing on my rig which is a 2003 Allegro Bay. I am very leary of getting burned in this kind of situation. Does anyone have an idea as to how to protect both parties in this type of transaction?

Lets see, you want me to owner finance a depreciating asset which can be relocated on a moments notice? I don't think so. I could give you my coach and you take off in it to never be seen by me again and then you decide to stop making payments. No way, no how, would I do owner financing.

BTW, this Mark guy does not own Country Coach.

Well I sent this info to bacor, but since Don S. opened the door I'll post it here.
A few years ago my Sister-in-law sold her MH after her husband died. She was assured that because she was on the title as Lien Holder she was protcted. That only works when the person who has the MH tries to sell it.
If they park it some where in a park or on private property and never renew the license or try to sell it, your out of luck. It was less than 4 miles from her home in a park. When she tried to report it as stolen she was told that it was a "Contract Dispute". Being a OLD MH it wasn't worth the time or money to try pursuing legal recovery. Of course the other party was hoping for that outcome. Someone in the park called the Sheriff about some disturbance one night and the Deputy who responed ran the plate
which was still under their name, the guy never completed the transfer. She took his word that he would. Her husband had been a Volunteer at the Sheriff's Dept and the Deputy remembered the discussion at the station when she had come in to find out what to do. He intimitaded the guy into taking care of the situation and she finally got her money.
BTW: If you do decide to do this, be sure to handcarry all the paperwork yourself to the DMV and maintain control of the title. He had everything.

How likely is it that someone who can't get a regular loan would be able to make payments over a long period of time?

Getting a divorce does not automatically give you bad credit. You had to be making some poor choices when it came to credit and in my book, that makes you a poor credit risk.

As to maintaining control of the title. . . that is good advice, but someone is driving your MH who knows where and doing who knows what to/with it. You could be holding a title to a totaled MH in a short time. And if they quit paying, you have to find them and enforce the contract.

This is the wrong way to sell something, in my book. I would NEVER do it.

Dale

Dale, I agree with you. This sounds like a scam to me. Get the financing. Pay the points. Give me my money and then you can drive off. No large American dollars, no deal.
Ward

I had several classic cars that I sold when we hit the road. Several times potential buyers posed this arrangemewnt. My response was that if your bank won't trust you with a loan, why should I?

You may consider saving enough to get into an older, cheaper RV, and then over time upgrade over a series of RVs to get what you want.

quote:

Originally posted by TopCat49:
I am recently divorced and as a result cannot get conventional financing from a bank to purchase an RV. And I certainly don't want to pay "loan shark" rates. That being said, I'm an independent mortgage and insurance agent and I conduct all of my business on the internet so I'm not restricted geographically.I've made a lifetime decision, after careful research and learning, to go RVing fulltime. I'm am extremely excited about starting. The one thing missing, A newer (1995 and up Class A over 30 feet) Big Rig to own and live in. If you want to sell your rig and would consider some creative financing, I'm your person. References available. Let me know and thank you for your consideration.

Tony
AdvancedMortgageConcepts@gmail.com

THIS WHOLE THING SMELLS TO ME ....ALSO ONE POST ON THE FORUM be careful...jim

B]Please don't lead this to the wrong way. I had just found some information on this way of buying an RV I was just trying to help someone who had a question. I was just trying to pass the information on. I don't sell or rent RV's I was just trying to help someone.[/B]

quote:

Originally posted by jimd40:

quote:

Originally posted by TopCat49:
I am recently divorced and as a result cannot get conventional financing from a bank to purchase an RV. And I certainly don't want to pay "loan shark" rates. That being said, I'm an independent mortgage and insurance agent and I conduct all of my business on the internet so I'm not restricted geographically.I've made a lifetime decision, after careful research and learning, to go RVing fulltime. I'm am extremely excited about starting. The one thing missing, A newer (1995 and up Class A over 30 feet) Big Rig to own and live in. If you want to sell your rig and would consider some creative financing, I'm your person. References available. Let me know and thank you for your consideration.

Tony
AdvancedMortgageConcepts@gmail.com

THIS WHOLE THING SMELLS TO ME ....ALSO ONE POST ON THE FORUM be careful...jim

FYI, I sent this guy an email, telling him that I might be interested in doing some mortgage business with him, and that I couldn't offer him a TOP on a MH, but might get him some commission money to get him closer to being able to buy one... NEVER heard a word...

So, judge for yourselves...

The reaction to this guy's request is somewhat dismaying, albeit understandable. As someone said, why would you expect someone to finance you when the bank won't?

As far as bad credit, I understand where this dude comes from. Bad credit happens. I've no credit card debt or anything like that, but ignored medical bills. I'm on disability and the bills I got before I got medicare were overwhelming. I let everything slide.

I've been a member of escapees for going on two years and have the dream of full timing. I'd love to hear from you about the mortgage thing. But my credit sucks.

I think the suggestion to save up and pay for a older rig, cash, is the best one. I'd love to find someone who has something holding together in one piece for under 5K. I look around in my area--hoping with the gas prices, prices will fall soon.

I'll add my voice to the choir that says, "buy something for cash."

You'll have to look, and you may even have to travel some to find it. But there are travel trailers out there that would do what you need them to do for maybe even as little as $3k to $5k, maybe less depending upon circumstances.

Now, for that price, you may have to be somewhat more active in the maintenance area. For instance, you may have to spend some time on the roof a few times a year, just making sure all the seams are sealed and all is ok in terms of water leaks. You may have to do some repairs of things like water heater, furnace, air conditioner, refrigerator, etc., but it would be good experience in learning a lot about these kinds of systems.

Last year, I sold a 1993 Jayco TT, 32ft long, that would have worked very nicely for a single person to fulltime in. I sold it for $3700, if I remember right. And I think I could still be living in it if I needed to.

It doesn't require a quarter million dollars (plus) to start fulltiming. And it doesn't requre loans or owner financing either. But it may require you to start in a lesser rig than you may initially lust over.

Also, FWIW, I'm glad we started out in our Jayco TT. It gave us a very good feel for what we like and don't like making our next trailer (this time a fifth wheel) a much better fit. Will we upgrade again? Maybe, maybe not. If we do not, we'll still be quite comfortable.

Good luck,

Brian