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Old 07-17-2014, 04:55 PM   #43
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Anyone ever been in an upside down situation and got out of it?

Very admirable and I believe good for you to care for your grandmother. It should be noted however you are under no legal obligation and she would go on Medicaid ( which they paid into during their life) and recieve care also . Retirement care facilities once your in can't kick you out , at least not in the state I live in .they fail to mention this as they get much more from relatives than medicaid.
They lived their life the way they wanted and cannot dump obligation to anyone most of all other family members . My DW is in the care enforcement community and sees family's angry at elders ( elder abuse happens at times as a result ) because they feel stuck.comunication of options is very poor to say the least.
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Old 07-17-2014, 05:17 PM   #44
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No, there was no Medicaid in her circumstances. You have to be confined to a bed medically or something like that. My mother was the one who looked into that and am sure if there were a way to get her cared for without paying out of pocket she would have found it. This started a few years ago and here n California she did not qualify for anything. I'm sure someone who doesn't know all the details will try to tell me I'm wrong, but I have no interest in going over every private detail or digging out all our research and communications on the subject. I can only ask you believe me my grandmother did not qualify for assisted living to be paid for in her circumstances.

And the moral obligation I feel is far more compelling than any legal obligation would be.
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Old 07-17-2014, 05:25 PM   #45
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Well said by everyone and certainly no offense taken here. My parents had more than enough money. My mom still does. She was so worried about not wanting to be a burden to me or my sister that she constantly worried about money. I dragged her to a dealership this year and she bought a MH and is enjoying it. We just returned from meeting up with her in Cades Cove and had a great time.

The thing I am trying to get across is none of us know what awaits us tomorrow. You better enjoy life while you can........responsibly.

The OP asked if anyone knew how to get out of an upside down situation. Never said he was financially strapped, heck for all we know he could be filthy rich. Who wants to lose money on any transaction?

He asked a simple question and it wasn't how do I manage my money better. There have been several good suggestions. I myself would recommend talking to a good dealer (one was mentioned in this thread) and see what they could do. Worse that happens is you have to put your plans on hold for a bit.



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Old 07-17-2014, 05:29 PM   #46
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She must require assistance in 4 or 5 areas ( I'm not the expert here ) not be confined to bed however. medicaid will try to not pay especially if they know other means are available ( that's why lawyers make big money fighting them)
Point is moot you are correct that moral trumps legal!
my point is many folks don't investigate or plan!! a good elder care atty can set all that in motion way before needed .. Something your grandparents could have done themselves or absent that the children. Others may be in a different position but all this is WAY off topic
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Old 07-17-2014, 08:06 PM   #47
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There have been some very reasoned responses here, and good options offered.

What is rather comical is that the people posting here likely take the thread more seriously than the original poster - he hasn't been back. And if you look at his post history he hasn't posted otherwise in 5 months.

So he must have not sold his unit back in february when he was having slide operation troubles.

Ah well....such is life in these troubled times and sordid interweb stories...


So as a follow up to my anecdotal BS, I have to fly to Seattle next to help my sister with their new coach after her husband has recently passed (last week). The local dealer is going to sell it for her and have proposed a fair deal and financial transaction for her to get out of it since she can't even drive it. Her business partner and another long time friend said they "THINK" they can drive it and she told them she needs more than 'think', so I have to try to get it situated for her. She'll lose about fifty grand plus the sales tax they paid when they bought it last fall.

If anybody wants to step up to the big-times, it's a 2013 Entegra Cornerstone 45 with about 7K miles on it. It's sitting at Camping World north of Seattle waiting on a new kitchen counter top. All other warranty items have been completed and it's like new and ready to go. MSRP is $585K on those units. It's going to sell for well under $400K. WELL!

We would buy it but we don't have that kind of $$ and don't want one that big anyway. If I was getting ready to retire and wanted a big DP it would be a slam dunk. They really build a nice motor coach.

Thanks for the kind words and I hope OP and anybody else upside down gets their unit paid off or traded off whichever suits. I think that's probly pretty much everyone that didn't pay cash.
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Old 07-17-2014, 09:41 PM   #48
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Ha, CJ, people can post they long since bought something they were asking about and folks will still dig up the thread three years later and we'll all dive in on that necrothread and give our $0.02 -- that's the Internet!

And Bill, you are 100% about not planning. I've been caught by in too. In this case, my grandparents planned on dying and were wrong. And I only bring this up again not because you and I have any kind of disagreement -- we don't -- but because CJ is right that the OP has probably long forgotten about this thread so off topic no longer really matters and to warn people who think planning their financial future doesn't need to extend past what the actuaries think their life expectancy will be. There are numerous people in my family who have lived into their late, late, 90's, and my grandmother is going to be one. 100 may seem a stretch, but if you're planning your financial future based on living until you're 80, but live to be a centenarian, well that's an extra 20 years. And listen, if you stop and really contemplate it for a while -- and I don't think many of us do, that's a loooooong looooong time once we're already retired. And, if you need help with things -- and not many won't at that age -- that's a lot of money. Not to bring anyone down, but none of us, me neither, want to spend much time on these things when we're already feeling our mortality. Still, it has to be done. Take care everyone.
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Old 07-18-2014, 05:57 AM   #49
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Quote:
Originally Posted by PatrickJ View Post
The original poster was soliciting financial advise. The original post said he/she owned a motorhome that they owe more on than it could bring on a sale. Then the original poster asked how can they get rid of that motorhome in order to buy a larger, more expensive motorhome. To which one respondent suggested the original poster deal with the debt they have already. And another member promptly pummeled the sensible advise-giver with a litany of heart rending, but largely irrelevant, anecdotes meant to rationalize going into more debt.



The original poster asked for advise and a range of ideas were submitted. I happen to have some life experience with budgeting, saving, goal-setting, and personal financial planning and the best advise financially is to pay off and use the motorhome you already have.



Very well said.
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Old 07-18-2014, 06:06 AM   #50
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Some of the financial advise here reminds me of the movie "Its a Wonderful Life" when Potter chastises George Bailey for giving a mortgage to the cab driver to buy a house. Potter says they should save their money and pay cash. As pointed out by George, the problem is that by the time they save that much money they are told old to enjoy the house!

Does anyone really want to be like Potter!?

If you can swing it go for it and live life now.

Ummm your confusing and conflating a highly depreciating toy (RV) with a appreciating asset (home).

BTW, I bought my first RV in my mid 20's for cash. I'm on my 6th RV now, all paid for by cash. The power of being debt free is that you will accumulate savings at a astronomically high pace. It doesn't take a life time at all and it's Hollywood myths promoted by the advertisers who are trying to get you to spend your money that you have fallen for.
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Old 07-18-2014, 06:44 AM   #51
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I'd say its time to learn to live within your means. Why would anyone compound this problem by buying another one and going farther into debt?
Oh, how un-American!
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Old 07-18-2014, 07:16 AM   #52
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The problem is that for most people of normal means its almost impossible to set enough aside for a serious illness. You can easily run up $1M in medical bills wiping out the average person's life savings.

I am not working so my doctor can have a nice RV!
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Old 07-18-2014, 07:29 AM   #53
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Ummm your confusing and conflating a highly depreciating toy (RV) with a appreciating asset (home).

BTW, I bought my first RV in my mid 20's for cash. I'm on my 6th RV now, all paid for by cash. The power of being debt free is that you will accumulate savings at a astronomically high pace. It doesn't take a life time at all and it's Hollywood myths promoted by the advertisers who are trying to get you to spend your money that you have fallen for.
And you are confusing an analogy with fact!
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Old 07-18-2014, 07:43 PM   #54
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Glad to have been some comedic relief for some here, as far as my TT in February it did sell and turns out that I did not have slide troubles after all. Not sure what that has to do with this conversation at all. I have read every post that has been posted and took them all in. Sometimes you can say more by saying nothing at all. There has been some very good information and insight in these posts and I appreciate most all of them. I have been working 14-16 hour days since Monday of this week so pardon me for not replying back quick enough and to each post here as some seem to think that I should have.

I have contacted the dealer that was recommended here and waiting for a call back on Monday from Karen to see what she has to say.


We have came close on a couple of units but not as close as we needed to.


Have talked to several dealers here around where we live and at best most of them are insane. I have had some of them tell me that it was going to take $70k down and finance $230k on a $185k unit. Totally insane and if that is anywhere close to what it is going to take I can tell you all that I will driving mine until the wheels fall off because there is no way that I am that out of whack on the coach that we have.


Thanks for all of the input!
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Old 07-18-2014, 08:32 PM   #55
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Thanks for checking back.

We are looking at a new 35' Georgetown XL tomorrow...
A customer special ordered a bunkhouse model with closet instead of bunks and the deal went south, and it's a '13, so it's more than 30% off. Might be the perfect rig to bail out of the old one on. I would build a office/hobby table/computer desk where the closets are. Fantastic master suite.
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Old 07-18-2014, 08:51 PM   #56
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The problem is that for most people of normal means its almost impossible to set enough aside for a serious illness. You can easily run up $1M in medical bills wiping out the average person's life savings.

I am not working so my doctor can have a nice RV!
You're right there is a HUGE risk that hangs over everyone's head. Some buy insurance and some roll the dice. But who pays if one throws craps?

There aren't many folks who have the liquid net worth to self-insure. For the rest of us there is insurance for most everything, including assisted living facilities. I had no idea such a thing was available until my dad died and I found his policy.

Frankly, if I were in the insurance biz I would be flogging my wares on most every RV forum out there. Most RVers aren't getting any younger.

And hey there OP, I'm sure no one was qualifying who you are as a person. It's just a common happening on web forums that someone asks a question and 50 people pour out their biases, wisdom, and tangents, over the course of a week and four or more pages of posts and at the end of it the OP abandons the thread and everyone is left wondering what the heck happened. No offence intended by anyone personally I'm sure. Keep us posted.

Bonus points for sneaking in a teaser like "I didn't want to cut off my daughter before she starts her final year of med school, which I've been paying for, but I really want a new coach..." Black humour to be sure, but some of us probably deserve to have our chains yanked! Take care.
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