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anntharp · Joined: 22 Apr 2009 Posts: 2 1.31 Dollars($)

I have two properties now. My husband lived in the manufacutured home after I left 4 years ago and decided he did not want to pay rent anymore and now I have two mortgages. I am afraid I am not going to be able to stay afloat. The moble home is worth less than payoff, new standard for FHA sale is to have on permanent foundation which is just a concrete block skirting about 5,000 I don't have don't want to rent because to come out even I will have to rent for over 698 a mth plus there is work to be done to it before I can rent about 5 to 6 thousand. I don't want to loose my house I have now. I don't know what my option are but to deed in lieu of foreclosure. I have Greentree and they don't refinance anymore mobile homes I am up on the payments since my huband dumped the mortgage one me but don't think I will make it. My house I have now is worth more than the moble home. I can't sale the mobile home, don't want to rent it just want it to go away. How would the Deed in lieu look on my credit report and can the other mortgage company make me sale my home to cover debt on the mobile home. would like some feedback here Thanks

savior70 · Posted: Thu Apr 23, 2009 3:50 am Post subject:

Hi

It's most unlikely that you'll have to sell your home to cover debt on your mobile home. If you cannot afford two mortgages, I think you can talk with your lender and arrange a deed in lieu of foreclosure. This however, will affect your credit negatively.

Guest

To: annthorp - I'm interested in the outcome of this. 11 years ago my husband & I purchased a new mobile home & moved it to my father in laws farm. He wanted a newer mobile home on the property & we needed some temporary housing until we found a home of our own. He had agreed to purchase from us once we moved. Currently we still live there/ my husband had returned to the farm to work with his dad 10 years ago-in sept 2009 my father in law passed away. Unfortunately no will and the agreement with our home was not in writing. His wife is greedy & refuses to speak with any of my father in laws children. we found out this week that 3/31 noon is our deadline to move off of the property (my husband, I & 2 children) and move my home with it. I can't unload this home anywhere-no sites available for this size. We have a place to "keep" it-w/o being able to live in it- I cannot afford to keep the mobile home & rent (as my husband will be losing his job as well). My biggest problem right now is this mobile home-I'm damned if I do damned if I don't with it & we owe more than it's worth. We are financed with Greentree as well. I'm interested in your outcome with greentree.....

Posted: Thu Feb 25, 2010 9:58 pm Post subject:

Hi pstrit,

You have mentioned that your father in law did not leave back any will. In that case, you and your husband can file an affidavit of heirship for this property after receiving a no objection certificate from the other heirs and claim it to be yours. You can even consult an attorney in this regard who may give his opinion in this case.

Thanks

jameshogg · Posted: Thu Feb 25, 2010 9:59 pm Post subject:

It was me above Smile

Just forgot to login!

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