Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#2107993 - 11/18/16 08:31 PM Deceased Borrower
*W*W* Offline
Platinum Poster
Joined: Feb 2010
Posts: 835
My bank has a RV purchase loan for a borrower that recently passed away. A family contacted the bank stating they made all the payments on the RV and the RV was actually theirs, not our borrower's. The loan is in default due to the borrower's passing per our note. I'm unsure what our next step should be.

Do we demand the loan? Reposess the RV?
Should we/ can we allow this family member or perhaps the executor of the will to continue to make payments and then transfer the title when paid off?
I'm concerned the family member may be living in the RV.
_________________________
Live Like No One Else!
CRCM

Opinions expressed are my own and do not reflect the views of my employer.

Return to Top
#2108072 - 11/21/16 07:26 AM Re: Deceased Borrower *W*W*
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,220
Galveston, TX
You need to deal with the executor and work out a game plan. You can't go by what a third party tells you the situation might be. Repossessing the RV without dealing with the executor first is going to get you sued.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z