Eddie wrote:
Ok, this may be really dumb on my part, knowing that if I sell my
house and carry the note and it defaults, I know they can't take the
house somewhere. But I've been offered a monthly plan with 15% down
on my $17,000 Regal. Payments for 4 years with 6% interest.
The person is a professional with a good paying job and I have
everything from him to check such as personal references, work
references, and rent references. He claims he's been a victim of
identity fraud and thus unable to finance through a bank.
My gut feeling is the guy is ok, my daughter says no. She says let
him fix the current financial problem, wait 6 months or so and if I
still have the boat, get him to try financing with a bank.
Anyone out there with an opinion? And yes, I would keep the title.
But there is the chance that he could just motor on down to Mexico or
whatever, right?
How easy is it to get away with boat theft? Do the hull numbers mean
anything? Could one simply trailer it to another state and get some
kind of registration?
Thanks for any insights and help on this matter.
Eddie

Your daughter is very wise. If this is not a scam to ship your boat
overseas and he does have bad credit, his current financial problems are
most likely not the result of identity theft.



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Reggie
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That's my story and I am sticking to it.

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