Legal Question in Real Estate Law in Texas

We are senior citizens and need to move out of our RV but we still owe on it. Can I send a letter to the bank that has the loan and tell them that we can no longer pay for it and they need to repossess it? We srill owe about 15000 and there is no way we can pay for it and move to an apartment. What are our choices?


Asked on 4/08/12, 8:25 pm

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

Yes, you can certainly move out and write a letter to the bank (you'll want to keep a copy of the letter, and you'll want to send it certified with a return receipt requested. The postage will be $5.59). They will eventually repossess the RV, sell it at a loss, and try to collect the "repossession deficiency" from you.

In the alternative, it wouldn't hurt to put an ad in the paper (or Craig's List) inviting someone to move in after you move out, and take over the payments.

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Answered on 4/09/12, 11:16 am


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