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<blockquote data-quote="nemesis" data-source="post: 2084173" data-attributes="member: 12082">I&#039;m aware of this circumstance and would like to pick the brains of some of you.There&#039;s this elderly lady, a widow, who lives off social security.&nbsp; I think she also might be getting something from her deceased husband&#039;s military benefits as well.&nbsp; But she definitely pretty much lives hand-to-mouth.Years ago she bought a trailer.&nbsp; She didn&#039;t know what she was doing.&nbsp; It was like, &quot;I need a trailer.&nbsp; Oh, here&#039;s a nice one.&quot;&nbsp; It was used and she paid more than it was worth.&nbsp; Plus, she financied it on the lot at less than favorable rates.Fast forward to the present.&nbsp; She&#039;s way underwater in the whole thing and will never get it paid for.&nbsp; She owes so much on it she can&#039;t sell it.&nbsp; I used to have a realtor&#039;s license so one of her kids asked me what would happen if she just walked away from it.&nbsp; I don&#039;t know about trailers.If she walks away and tells the finance company she can&#039;t afford to live there anymore, will they come and get the trailer?&nbsp; I think she said something about walking away from the trailer, but that she couldn&#039;t walk away from the lot rental in the trailer park.&nbsp; So if she walks away from the trailer and the finance company decides not to repo the trailer, can she ignore the lot rental as well?&nbsp; I think the issue is she&#039;s becoming too frail to live alone.thanx</blockquote>

[QUOTE="nemesis, post: 2084173, member: 12082"] I'm aware of this circumstance and would like to pick the brains of some of you. There's this elderly lady, a widow, who lives off social security. I think she also might be getting something from her deceased husband's military benefits as well. But she definitely pretty much lives hand-to-mouth. Years ago she bought a trailer. She didn't know what she was doing. It was like, "I need a trailer. Oh, here's a nice one." It was used and she paid more than it was worth. Plus, she financied it on the lot at less than favorable rates. Fast forward to the present. She's way underwater in the whole thing and will never get it paid for. She owes so much on it she can't sell it. I used to have a realtor's license so one of her kids asked me what would happen if she just walked away from it. I don't know about trailers. If she walks away and tells the finance company she can't afford to live there anymore, will they come and get the trailer? I think she said something about walking away from the trailer, but that she couldn't walk away from the lot rental in the trailer park. So if she walks away from the trailer and the finance company decides not to repo the trailer, can she ignore the lot rental as well? I think the issue is she's becoming too frail to live alone. thanx [/QUOTE]

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