[Elaine]

We have a motor home that we can not afford to keep. We owe more on it than it is worth. We would like to have the Lendor take it back and sell it. We would pay the difference to the Lendor after it is resold. What penalties or repercussions would happen if we did this? What procedure do we use, we have never done anything like this before.

[aaron]

In almost all circumstances you would be better off arranging your own private sale and paying the difference.

The path you propose could severely damage your credit, while raising a substantial possibility that the vehicle will be sold at wholesale value.