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Mobile Home Repoed

We recently returned our mobile home to our mortgage company as we have been unable to sell it. They have it listed on a repo site for $30,000 less than what the market value is. We know that we will have to pay the difference, but how will they get that money. Will they allow us to make payments?


smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Michele!

Welcome to forums!

The lender will either ask you to pay off the amount in full in one instalment or else they may set up a payment plan for you which will help you to pay off the debts.

Feel free to ask if you've further queries.


Like | Dislike | Share | Posted: Mon, 06/25/2012 - 23:47 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Michele,

You can negotiate with the lender in order to set up a payment plan so that it becomes easier for you to pay off the deficient balance resulting from the sale of the property.

Like | Dislike | Share | Posted: Tue, 06/26/2012 - 21:17 | Post subject:

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