Posted: Thu Jul 31, 2008 3:35 am Post subject: Mobile home repossession
my home is ready to be repossed its on the market for 122.500 but i owe 103.ooo wen my home is sold by the bank am i still liable to pay wat it doesnt make
Posted: Fri Aug 01, 2008 5:10 am Post subject: RE: home repossessed
Hi Jody,
Welcome to the forum.
If the bank is selling the home for more than what you owe, it is likely that you will get back the extra cash amount. But hopefully it will be offset by the legal fees you'll have to pay for repossession. The bank will ask you to pay the legal fees of repossession.
A mobile home repossession will stay in your credit reports for 7 years. As you have said that 7 years have already been completed, you can check with the credit bureaus whether it has gone from your credit report or not.
Thanks,
Jerry
cindy Guest
Posted: Mon Feb 23, 2009 10:36 pm Post subject: mobile home repossession
I let my mobile home be repossed. Now I want it moved off my property,
the mortgage company has sold the home. How can I get somebody to move the house?
Guest
Posted: Wed Feb 25, 2009 2:54 am Post subject:
You can ask the new owner of the property to move the house to a different location.
Fubar Guest
Posted: Sat Mar 21, 2009 5:32 pm Post subject: Reposesson
I had a mobile a few years ago and I was unale to pay for it because I lost my job? it has been 8 years and the home has already been sold. Why is the Finance company still charging me for the home and garnishing my income taxes? is this legal?
Ana Guest
Posted: Sun Mar 22, 2009 10:15 pm Post subject:
I think it's legal. The lender will have the right to recover his debts from you. It would be better if you could take the help of an attorney and try to settle the issue with the lender.
It seems that though the mobile home was sold long ago, the sale proceeds were not enough to satisfy the loan amount that you owed. Thus, the lender obtained a deficiency judgment against you to make up for the deficient amount. I think, as Ana has said, you should consult an attorney and try ans settle the matter with the lender.
sherri Guest
Posted: Fri Mar 27, 2009 5:43 pm Post subject: mobile home
I live in Ga. and I am looking for a single or double wide repossed to move around $10,000.00.
You will have to contact the retailers who sell mobile homes in order to buy a single wide or double wide mobile home. They will be able to give you a fair idea about the cost of mobile home.
Sussane
Tammie Guest
Posted: Sun Apr 26, 2009 6:45 pm Post subject: mobile home sold
We bought a mobile home in 2000 and the gentleman we bougth the land from resold it and we had no where to move the home. We voluntary turned the house back to Vanderbilt and they resold it in Dec 2004 and now they say we still owe 7000 for a house someone else lives in what can we do the company reported it Aug 2008 as being repossed but we left in Nove 2004.
Though someone else lives in the house, if you owe money to the lender, you'll have to pay it off. However, as someone else lives in the property, you can negotiate with him/her and check out if that person can pay a part of the debt.
Thanks. _________________ Good is the Enemy of Great.
Tlevine Guest
Posted: Sat May 09, 2009 6:18 am Post subject: Have a mobile and can not sell it.
We currently live in a 2001 Palm Harbor home that is sitting in a mobile home park. We owe a whole lot more than what the house it worth. Currently we owe $60,000. We also pay over $300 a month for lot rent ONLY. Also we have a storage shed that we pay $70.00 a month for. So are total amount that we pay a month that is our home is $1170 a month. I don't know about you but I could get a really nice house for that. Also the park was built in 1999 and can fit 150 homes in it. This park currently has only 37 homes in it. This is about 20 less then when we moved in it in 2001. Recently the owners moved out all of the brand new homes that have been sitting there for 2 years empty. They also moved several other empty homes. The owner has been losing money on this property for years so he may have let it go. We need a bigger house and we do not know what to do about this one. Any suggestions?
You are in a tough situation. You can apply for a short sale or a deed in lieu with your lender and check out if he accepts your request or not. However, you should note that going for a deed in lieu or short sale will effect your credit score and lower it.
You can even try and rent the property and purchase another property. From the rental income, you can pay off the mortgage dues of the mobile home. _________________ Procrastination is the enemy of your financial sucess
Samantha
