UCAN

Looking for some advice on how to deal with BofA for coming after me for a balance on a loan for a motorhome that I had to let them repo and auction. BTW, I tried for 3-4 months to try to work with them on adjusting or lowering the monthly, they wouldn't budge. The person with whom I was working with even mentioned that they had a system that they were expected to keep fed with repos like mine to keep "bottom feeders" happy, as she put it...

That isn't really my complaint, here is what that is... I drop into a "Giant RV Tent Sale" and quickly get hustled into a motorhome loan that I really shouldn't have been able to qualify for to begin with, but they were somehow able to force the loan through and stick me with it at a time when loans were given to anybody with a pulse.

Six months earlier I sat down with my loan officer at Wells Fargo and told him that I was in the market for a motorhome and wanted to know how much I was able to qualify for so I could begin my search for one. It took them two full days to do the process and I was "only" approved for a $35,000 loan. That said I was content and found a low mileage 1996 36ft Bounder and they handled everything including the licensing and tranfer of funds directly to the seller. It couldn't have gone any better for both parties.

So, how was I now able to qualify for a $189,000.00 Motorhome without owning a home, was not asked to show any proof of income, (they just ran a credit score check and I was a 727 at the time) and later learned that they are not supposed to process a loan to a couple that is buying it to live-in as we were at the time.

What gets me is that I received at least 5-7 letters from different lenders that the RV people had apparently contacted and I was denied, BofA was one of them.

So how did they do this? Is there some kind of recourse that I can fire back with?

Thank you for your time.