Hi Everyone. Well, after 15 years the RV-Dreams Community Forum is coming to an end. Since it began in August 2005, we've had 58 Million page views, 124,000 posts, and we've spent about $15,000 to keep this valuable resource for RVers free and open. But since we are now off the road and have settled down for the next chapter of our lives, we are taking the Forum down effective June 30, 2021. It has been a tough decision, but it is now time.
We want to thank all of our members for their participation and input over the years, and we want to especially thank those that have acted as Moderators for us during our amazing journey living and traveling in our RV and growing the RV-Dreams Family. We will be forever proud to have been founders of this Forum and to have been supported by such a wonderful community. Thank you all!!
We have our house for sale haven't lived in that long so not much to be made off of it , I've heard you need to buy an RV before selling your house because no one will finance it ,don't want to do that,so is there away to get around that ? No problem paying for one just don't want a house and RV . Any info would be appreciated.. thanks
There are plenty of places that will finance RVs…although it's probably easier to get a short term home equity loan to cover the RV until the house sells…assuming you have some equity built up. Getting a separate loan from your current bank or credit union might give you somewhat of a leg up as well.
We went the home equity loan route just because it was cheaper than liquidating some of our assets (mutual funds) and paying the tax on the realized gains. Besides, home equity interest is (I think) still deductible but we didn't really pay that much interest anyway…only had the loan in effect for 2-3 months or so.
Do you have any other assets? Brokerage account? You could arrange your finances to borrow against them (also potentially tax deductible)... warning there is risk in this, understand it before doing it. If you are risk averse, then I wouldn't recommend it. Do not, repeat do not borrow against 401k or IRAs. Arguments for it are weak and usually not in your best financial interest.
Might be hard to avoid not carrying notes on both for a period of time. Price the house to sell, carrying mortgage payments gets old fast when you aren't getting value for your expended money. Once you decide to let the house go, it becomes an albatross until it's sold so do whatever it takes to unload it quickly at a fair price, put your time investment in it on a sheet of paper, put it in a cardboard box labelled emotional baggage, go out into the backyard with it, pull up a chair or two, crack open a beer, get comfy and set the box on fire, metaphorically speaking.
If you have to finance a rig, and there plenty of folks doing it... find a way to pay it down ASAP. JMHO.
When we bought our 2nd 5ther, our Teton, we were full time and no house. No problem at all. But we have been with the same CU for many years. They know us.
__________________
2003 Teton Grand Freedon 2006 Mobile Suites 32TK3 SOLD 2006 Freightliner Century 120 with Detroit 14L singled, ultrashift, hauling a 2016 Smart Passion
Another reason for getting the coach before the house is gone is that it makes it easier to decide exactly what you think you will and won't need. It also makes it easier to figure out that something just won't fit.
We actually had the luxury of parking our coach literally right outside the front door, so moving stuff into the coach was pretty simple. We started moving things into the coach and packing them away. At some point we decided that we could start sleeping in the coach, but using the house for cooking, showers, laundry, etc. A week or two later we were pretty much living in the coach. We used the house only for showers, laundry, cooking and dishes simply to avoid having to dump. Once we had the auction the house was only for showers (washer and dryer went on the auction).
