The present invention is a configurable trailer hitch that provides an extended towing position for transferring a tractor force to a load, and a retracted storage position for safely stowing the hitch under a towing vehicle. The trailer hitch has a spring loaded retaining pin which engages a hitch receiver when the trailer hitch is placed in the towing position, and a storage latch adapted to hold the hitch receiver when the trailer hitch is placed in the storage position.