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Guest

Thank you for your suggestions. We have looked into renting out our home but anyone that has been interested have been thrown off by having to pay that much for a "mobile" home (they want to pay $300 a month for a home that is drywalled and has a washer and dryer with it) . The managers of this part are also very selective with who they want in here. Which is understandable because you do not want people that are going to cause trouble or be disruptive in your neighborhood. I will see what happens with the bank on the short sale. I do know that the home is actually titled property so the rules of foreclosure do not apply to this home. We also just heard that the park went bankrupt so now the residents of this park are feeling very nervous about the current situation because the new owner may force us out at which time we would have no choice but to let our home go.

jameshogg · Posted: Mon May 18, 2009 10:52 pm Post subject:

Hi Tlevine,

Your best bet is to contact the lender for a short sale. I would suggest you to keep in touch with your lender to check out if they will accept your offer for a short sale or not.

As far as the new owner is concerned, he may ask you to leave the property. You'll have to negotiate with him so that he agrees to let you stay in the property for some more time so that you can sell off the property.

Thanks

Guest

I have since contacted Greentree to find out about a short sale but was told that they will only take the full amount. We are actually going to try to rent out our home for $600 a month so hopefully we will get some bites on that. The only thing I do not know anything about is how you go about renting out a mobile home that is in located in a park? Has anyone ever had any luck renting out a home that is in a park before? Any suggestions will be great. Thanks!

sara · Posted: Thu Jun 04, 2009 1:30 am Post subject:

Hi Tlevine,

In my opinion, you will be able to rent the mobile home located in the mobile home park provided your Mobile Home Park Owners Association agrees to it.

Take Care.

Guest

Thank you Sara. I will check with the managers to see if I can rent. It appears that this is the only way to go if a person wants to get out under the burden of a mobile/manufacture home. Too bad there are no rules governing the lending practices of mobile homes.

Guest

I have another question, if I sell my mobile home for $30,000 and the balance remaining is $30,000 is there any suggestions on how I can pay off the remaining balance. We are looking at purchasing another house and as noted in the above post we are also looking into renting out the mobile home (which is on a rented lot in a community). The bank does not accept short sales (it is Greentree) and because it is titled property a deed in lieu is not possible.

adonis · Posted: Thu Jun 04, 2009 11:16 pm Post subject:

Hi Tlevine,

You can contact the lender and check out if he can offer you a payment plan or not. If he gives you a payment plan to pay off the debts, then it will be easier for you compared to paying the whole amount at once. However, you should note that if you cannot pay the deficient amount, then the lender may charge off the account.

dmcgowan · Joined: 08 Jul 2009 Posts: 6 2.68 Dollars($)

So if your under water on a mobile home purchase and you walk away, they can get a judgement for deficiency. Which I believe is going to be the diff in what they sell for and FAIR MARKET VALUE, not loan amount. Can they garnish wages?

smithsussane · Posted: Wed Sep 23, 2009 9:40 pm Post subject:

Hi dmcgowan!

Welcome to forums!

The deficient amount is the difference between the mortgage held by the lender and the amount for which the property is sold off. If you are unable to pay the deficient amount, then the lender can garnish your wages.

Feel free to ask if you've further queries.

Sussane

Posted: Sat Sep 26, 2009 8:09 am Post subject:

You may want to check your facts Sussane, in Alabama it is sale price minus fair market value, and some states do not have a defiency law

Guest

got a call from greentree today about a doubleiwde that was repo'd back in 2000.iIt had so many problems we turned it over in 19999 it took them a little over a year to get it,it no longer appears on my credit report.Isn't it passed the statute of limitation.

smithsussane · Posted: Tue Aug 31, 2010 2:14 am Post subject:

Hi Eden!

Welcome to forums!

You need to check out the SOL laws of your state to know whether or not the time period to collect the dues are over. The SOL period to collect the dues can vary from one state to another.

Feel free to ask if you've further queries.

Sussane

Guest

I bought a trailor house 10 years ago lived there 3 years had a wreck they told me to move to take it because i got behind they never got it and i jus found out ti still mine I owe the taxes and lot rent what do I do

adonis · Posted: Sun Dec 26, 2010 10:57 pm Post subject:

Welcome sonya,

If the property is in your name, then you will be liable for paying the taxes and the lot rent unless your property is sold off. You should have removed the property from the place when they asked you to move it. You can speak to an attorney and check out if he can help you in this matter.

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