mlkaduk
Sarasota, Fl
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Has anyone heard of a company from Houston Tx. called Universal Resolution Financial Services aka URFS ? They find motorhome owners that have upside down loans and capital shy buyers that are willing to take over loan payments without a loan rewrite or aquiring a new loan for a clean buyout ? Would like to get opinions on this being good - bad or indifferent.
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Supercharged
Az.
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Joined: 01/01/2005
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mlkaduk wrote:Has anyone heard of a company from Houston Tx. called Universal Resolution Financial Services aka URFS ? They find motorhome owners that have upside down loans and capital shy buyers that are willing to take over loan payments without a loan rewrite or aquiring a new loan for a clean buyout ? Would like to get opinions on this being good - bad or indifferent. They will take it and drive the wheels off it in a rental agent company and then turn it back to you later wore out and you are still on the hock.
2005 Chev 5.3 Supercharged 395HP 425 T hp. Two wheels on front, 2 on back. one seat, tint windows. front and rear bumpers, headlights, windows. Door on each side. Heater, floor mats, junk behind seats, some dirt. Pulls so hard.
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rnr42005
melbourne, fl.
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try checking them out here.
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Skid Row Joe
America, Tent Camping and RVing since 1960
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Sounds like there's an aftermarket of subprime consignment RVers, being brokered to the upside-down RV owners, letting them buy some time and equity on their notes.
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pete42
Jamestown, Ohio
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believe it or not a person I know paid someone in Las Vegas $1500 to fly to NY
and drive his MH back.
He told me that they were selling it for him A lease to buy type plan.
which I thought was ok until he told me he still had to buy the license plates.
I ask him why would he have to buy tags for someone else's MH? He said the
title was still in his name.
Not only did he pay $1500 for them to come and get trailer, they got $10,000
from "new" owner. Talk about smelling funny.
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itsalleasy
USA
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Joined: 07/20/2007
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If the potential buyer is cash strapped they shouldn't be buying a big ticket item like a motor home. A lot of people are learning a painful lesson right now about easy credit and buying more than they can afford.
I certainly wouldn't want to turn over my mh to someone who still hadn't learned this lesson and still be on the hook with the lender for the payments. IMHO you might as well park it on Main Street with a big FREE sign in the front window and keys in the ignition. In the long run that would be less problem than wondering where the payment, and motor home, is.
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JaBob
Roswell, Georgia
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This is not new.
There is a major problem and that is your loan contract. If it allows such a deal (doughtful) then it's okay. If not guess who is responsible for payment? These people make it should like it is your decision. IT IS THE LENDERS CHOICE!.
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M GO BLUE
Southgate, MI
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I know of no reputable banks, credit unions, finance companies, etc. that will let someone else assume the payments of who the current loan is to...almost all of these places will re-write the loan in the name of the person who is assuming the payments...until everything is done to completion the person who the loan is currently to is responsible for any and all loan payments, costs, etc.
ERIC & BEV
2005 Chevy Silverado 3500 dually CC/LB Duramax/Allison
2008 Jayco Designer 35RLTS
Built-In Onan 5500W generator
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Dick A
Spokane Valley
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The credit market for purchasing RV's is very tight right now. Generally banks are wanting higher credit scores and more initial equity. Also rates are higher than previous years. With the tight lending environment there is bound to be some flake outfits offering "too good to be true" deals and scams.
There will always be a few "new to the game" purchasers who are taken in by the shysters.
Check out the RV.Net Blogs at: blog.rv.net
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Nascarcruzin
Home is where the RV is parked.
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It's a scam!
Ronnie & Rebecca
Check out our journal: North to Alaska
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