skolbe
Well-Known Member
- Oct 3, 2006
- 3,549
- Boat Info
- 320 Sundancer, Zodiac 290 Wave Inflatable Tohatsu 6HP, Boston Whaler 130 Sport
- Engines
- 350 Mag V-Drive - Kohler 5ecd
My dockmate called last night and said he is trying to sell his boat. He is in construction and work is tight. He said he had asked the bank if they would just take the boat. The bank told him - put it up for sale and any offers you get - bring them to us - even if they are low.
This had me wondering - if he sells the boat for less than he owes and the bank eats part of the loan balance. What does this mean for the guys credit?
This had me wondering - if he sells the boat for less than he owes and the bank eats part of the loan balance. What does this mean for the guys credit?