I definitely feel your pain, having taken a huge hit on a '69 L71, followed shortly thereafter by letting go of a pristine '92 LT1, in order to save the house a few years back. Unfortunately, I lost my marriage anyway, and in hindsight still don't know how I might have better handled things. So, trust me, I know very well how hard it can be to discern what is best to do here, and that whatever you decide it's almost certain to hurt.


Thing is, no matter how solid your marriage may seem today, chances are that you're treading on very thin ice already - especially if any one person having her ear is or becomes critical of how they presume you are handling this crisis. Tho they may not intend to do, friends and family can completely discombobulate a relationship with "helpful" advice. ...and that includes what I might have to offer...


I'd assume any decision to keep it, however logically rendered, will appear frivolous to someone in your wife's inner circle, and that they'll be sure to let her know. However difficult might be the sacrifice to accept, if she's not 100% onboard with keeping it, I'd figure on letting it go at some point in the near future. In the event that she is genuinely agreeable with hanging onto it, do NOT store it with in-laws. (If she asks why not, IMHO a fire sale would be better than trying to talk your butt out of that jamb.) And, remember that stuff is just stuff, and stuff can be replaced.


My prayers and sympathies are with you. Whatever happens near term, I hope your marriage survives this test. /Charlie

 

Good luck. I guess you need to do a personal inventory. If you really need to sell the car, just do it. It's a thing and can be replaced. I'm easily $50K into a $25K car; these things are money pits. If you don't need the cash, as the others have posted, look for storage alternatives. In CA that's pretty expensive, especially inside storage. The recession hit us pretty hard. Best of luck to you. But it's just a car.
My 90 year old Dad took a fall and needed plastic surgery to replace a bad scrape on his arm. For the past 6 weeks I did not think of my Vette or pristine 65 442 once.
It's Christmas and he is doing great at home; my wife is cooking up a storm and it's a sunny day in Los Gatos, CA. It's all good.

 

Thanks guys for all the input. The wife is all for whatever I decide to do. Shes real supportive. Since the bank is rejecting my payments I am hoarding them back for a nice down payment on something else. We both are employed which is a blessing in itself. The main issue is storage. Me and the wife has about made our mind up on renting something big enough for us and the kids as I really see no point in buying a house the size we need because they are already teenagers. In my mind theres no reason to buy a house that eventually would wind up being more than the wife and I would use. I dono maybe I can find a decent piece of property to put my shop up on and store there. Im about to go crazy as Im preparing and thinning all of our stuff so when we do move it wont be so much and last min packing. I have been doing this for over a year and they still havent filed. The "not knowing" when or how its going to go is just making me nutty. Since this mortgage company has done me the way they have my view is to live in their damn house rent free for as long as I can. One way to get some of my equity back.lol

 

As someone else mentioned, why not try and find someone who is in need of some tools and who has some spare space you can store the car in in exchange for use of the tools or how about getting a used shipping container to store the car in if you can find some one with some room to store the container for a while?

 

Hi. Just wondering where in SC you are? we are in NC.

 

The shipping container thing is interesting. Wonder about moisture problems though. My best friend has offered but his shop is almost full as is and I don't want or like to impose. And renting storage isn't really entertaining either as most around here are not to good in the secure department. The container idea though seems do able.

 

I'm in Anderson, about 45 min below Greenville.

 

Check around at some of the local resto shops, and talk to the local car club people. Don't stap at the Corvette people, ask the Mustang people and others as well.

I stored a 73 convertible in a resto shop that had room in the corner for $35 a month while I was in transition between houses / garages.

It cost the shop nothing, and they had the space. The only restriction was that the car had to run and drive. They said they had plenty of cars already in the shop that they had to push around.

 

Apartment complexes will rent unused garages. A friend pays $50.00 a month

 

I'm no attorney (I'd suggest talking to one about all of this), but I'd keep up with those rejected payments. It shows you're trying to do all you can, and might also help you defend against them coming after you (and your Corvette) for every penny of the difference if/when they sell short to clear the property from their books. Sad to say, but that seems to be SOP.

 

Skunk, I have considered an attorney, these people are crooks. They are the definition of predatory lenders. I have been struggling to fix this for five years and all it has done is cost me. So if they want it come get it. Its funny I bought the house for $87xxx and financed $83xxx and been paying on it ten year's and they sent me a statement calling for the full note, which is over$ 90xxx. I would take up pages explaining the whole thing but I lightly spoke with an attorney and he checked into them and said the the us gov won a billion dollar lawsuit against them a couple of years ago. On top of an F rating with the BBB.