Don't let them fool you..........

[waternwaves]

The day you sell it is Not one of the happiest days of owning a particular boat.

Unemployment does not allow one to properly maintain the fleet.

Last saturday I took a down payment on ENANDI. I have been feeling rotten ever since. I was worried that no-one would want her, I am trying to get my house current, but the boat does have some value. I priced her lower than any other I could find, with radar, electric head, full enclosure etc...... I hav not run the motor in a year, havent cleaned her, and she still started up.

now everyone is responding to the ad, I made the mistake of lowering her price when no one responded in the first 5 days...... first person that came to see her put money down on her. (and I am really going to need that last thousand toooo)

now I really feel sick, since the only reason I am selling her is to make house payment. and now with hindsight I priced her a little too low. Hope it is enough to save the house..

She looks good on the hill over the water...........

[Catigale]

This is a temporary situation and I will send some employment vibes your way, Darren..

On the bright side, with all the resources and experience here, you can get back into boating on the used market when things are a little more stable....woot woot..

[Love MACs]

Hate to hear that W&W But a Mans gotta do what a Mans gotta do You need to protect your home and family above the beloved boat. Hope the money takes care of or at least eases your situation. Maybe some day she or another will return to you Until them please hang around on this site. I admire your knowledge and enjoy your stories. You are wanted and needed here for us newbees


Allan

[Russ]

This is a sad time..but as mentioned the situation is temporary.

I know the feeling. When I sold our runabout I didn't hear anything from the ad. I thought, it's priced too high, the market isn't good. Then someone came to look at it and dropped a check in my hand and said, "I want to take it out to make sure it runs okay but I want it." They drove off with the boat and I patted myself on the back with the check. Later that day my phone began to ring. The next day even more. I had to say, "It sold". All the while I'm thinking I underpriced it.

Hopefully you will get some relief from the proceeds.

Please keep on participating here as we enjoy your contributions.


--Russ

[pokerrick1]

Darren;

If you have not already; I urge you to see an attorney who specializes in finances, mortgages, bankruptcy, etc. and examine all your options BEFORE YOU HAND OVER THE BOAT! I recognize you don't want to spend money on an attorney - - - but I guarantee with the correct attorney - - - it will be money WELL SPENT.

Do some homework on this kind of attorney and, please, make the call!

Rick

[Greg]

option?

Mortgage restructure an option?

[LOUIS B HOLUB]

Hate to hear that W&W But a Mans gotta do what a Mans gotta do You need to protect your home and family above the beloved boat. Hope the money takes care of or at least eases your situation. Maybe some day she or another will return to you Until them please hang around on this site. I admire your knowledge and enjoy your stories. You are wanted and needed here for us newbees


Allan

What Allan said...!
Here's hoping things "turn around" for you and your family soon.

Since you're a Mac fan as all of us, and love the water & boating, maybe you could pick up on a Mac-Classic in the future, they're priced far lower than the Mac X or the Mac M, and they even sail better.

The best to you ! Stay on board.

[Gypsy]

We have had our Bayliner for sale for over a year . So far one person has shown serious interest in her , but He didn't come thru .

The boat is worth $20,000 but we are asking $15,000 and will accept $12,000
$12,000 is what we paid for the

Only two types of people call about her , those who will sell it for $200.00 up front and Nigerians !

[Catigale]

ouch.....40% distress pricing,,,,,

[sbods]

Anything in this world is only worth what someone is prepared to pay for it...

It may feel like you have undersold something that you cherish, but there are times when the bitter pill needs to be taken.

What would be better, selling now for what you have or later - after perhaps losing an opportunity with your home etc. for a little more?

As they say " A bird in the hand....."

Good advice has been given though regarding your other options, but I guess that you did not take this decision lightly.
All the best whichever way it goes.

Best Regards
S

[puggsy]

About having to quit your ...I sympathise...but what has to be done...has to.

If finances are tight, try a cheaper option...as follows...







8 weeks later...ready to launch...

[waternwaves]

thanks for all the kind words.

the navy is thinner, but still present.

a discouraging note you will not want to hear.

When I first started working with the bank, I was asked certain questions, which would allow me to be in special incentive programs setup to help people having problems with their home mortages.

I have lost my job, that is the problem, but......

I was asked if I was black, hispanic or an illegal alien, as there were goverment programs to help the banks out when keeping those homeowners.

Since I did not "qualify" I was told " There is no program available for me " the restructuring of loans is primarily for those that have higher rates, mine is not particularly high, but I had other assets, and still have equity in the home.

B of A does not care. I signed a contract years ago.......tough........sell the house......
I am not done with the bankers yet. I have never gone bankrupt.........but I may have to set a new record for how long it takes to make one happen......... could stretch into years........................

I belong to no party, other than the dock party. Life is short........go sailing.

[Catigale]

Not trying to get political, but these programs should be colour blind imho and based solely on financial criteria....

[SkiDeep2001]

Risking a wagging finger from the moderators, why would anybody use any bank in this day and age after the way they have scr*w*d the general public. Credit Unions are the only way to go, the banks can kiss my backside. Just my .02cents worth. Good Luck Darren Rob

[Catigale]

B of A does not care. I signed a contract years ago.......tough........sell the house......

If the real estate market is soft, then they are in a weak position - if you can even just make interest payments, they will be interested in having you do that than foreclosing and sitting on an unmoveable - you may have to bluff them out on this by stopping payments and asking them how they want to proceed.

I dont want to start a debate on morality of this, we are all grown-up and that discussion belongs in the Pub