BR, Foreclosure...Financing

[danrwe]

My situation is a little different and I was looking for some suggestions.

1. I have started c7 process (w/attorney)
2. Foreclosure on my home is in the first stages
3. I plan to RV fulltime after everything is completed

I will need to figure out financing for the RV (Approx. $20,000). Some other forums suggest that banks won't make loans on RVs that are being lived in FT (even to people with good credit). Citing no permanent residence and most RV loans are made with idea they will be used a few times a year thus the "life expectancy" of the RV will be as long or longer than the term of the loan. Fulltime living will reduce that "life expectancy" possibly putting the bank at risk.

It is going to be a fine line...timing wise. I need to have something ready for when I have to leave my house. The foreclosure may or may not be completed by the time my BR is discharged.

So, is it even a possibility to get financing? When would be the appropriate time to consider it?

Sorry for the mixed up story that is my life

[daylate]

If you apply now and get financing you have a home address (who knows you may win the lottery and avoid foreclosure ) and have not filed BK. Now if you don't win the lottery and have no place else to live, then you can RV it for a while until you find a permanent residence. As long as you make payments on it, I wouldn't think the bank would give a hoot about you living in it full time or not. Now if they point blank ask the question "Are you going to live in it full time?" then you have another ethical issue to deal with. But if the info is not asked, don't tell. Question will probably be asked-Have you ever filed BK?-Answer - No. I don't believe you have to elaborate and say but I will as soon as I get financing. Financing a 20k RV doesn't seem to me any different than buying a car pre-Bk. Good luck.