Topic: Voluntary Repossession of a Mobile Home
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Answers to Common Questions
How does a voluntary repossession on a mobile home work?
Answer My experience at this point has not been pleasant. Texas has very few mobile home laws for consumers, the ones just implemented are for current status accounts basically. I did a voluntary repo in 2005 on an Oakwood home bought out b... Read More »
Source: http://wiki.answers.com/Q/How_does_a_voluntary_repossession_on_a_...
What are the pros and cons of voluntary repossession of your mobi...
none. it will still show up as a repo. it will still go againt your credit unless you can refinance it for a lower amount so you can pay each month.if you can put it up for sale and let someone take over the notes, that would be better. but... Read More »
Source: http://wiki.answers.com/Q/What_are_the_pros_and_cons_of_voluntary...
What Happens After a Mobile Home Repossession in Texas?
According to Consumers Union.org, mobile homes are often financed with personal property loans or chattel mortgages. This means that the mobile home can be repossessed by the lender if the borrower defaults on the loan. Texas residents may ... Read More »
Source: http://www.ehow.com/facts_6859144_happens-mobile-home-repossessio...
More Common Questions
Answers to Other Common Questions
Answer The law related to manufactured (mobile) home repossession varies greatly from state to state, and is typically pretty complicated. There are two types of loans that can finance manufactured homes. If the loan if financing a home on ...
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Source: http://wiki.answers.com/Q/What_are_the_laws_on_mobile_home_reposs...
Essentially, pay the loan by the agreed upon terms, or the loan company may come and serve you eviction notice and take the home if you either do not answer or do not pay current.
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Source: http://wiki.answers.com/Q/What_are_tennessee_mobile_home_reposses...
in most US states, legal repossession can take place regardless of location.
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Source: http://wiki.answers.com/Q/What_are_the_laws_on_mobile_home_Conten...
Answer The bank or current lien holder will take possession of the mobile home after the required steps of repossession takes place. The bank or current lein holder of the mobile home is responsible for paying the lot rent unless the mobile...
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Source: http://wiki.answers.com/Q/What_happens_if_your_mobile_home_is_vol...
Typically, they are not. The mortgage contract the tenant has with with the lender is between the tenant and them. The rental contract you have with the tenant is between the tenant and you, and the lender does not enter into this picture. ...
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Source: http://wiki.answers.com/Q/How_do_i_collect_back_rents_on_a_mobile...
You should review the documents you signed when you applied for the loan to see what rights the bank retained in the case of a default. You may also find some useful information at the link provided below. Mobile Homes- Repossession http://...
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Source: http://wiki.answers.com/Q/How_can_a_finance_company_repossess_a_m...
They will try to sell the home to someone. Selling homes is what they do. If you owe them a lot of money they might place a lien against your land. Be careful.
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Source: http://answers.yahoo.com/question/index?qid=20090323203621AA192jR
