I carrying a loan on a mobile home, which is now in default. What is the next s
My grandmother owned a mobile home and sold it to a woman for $15,000. She carried the loan for the whole amount. The sale was done December 23, 1994. My grandmother passed away and deeded me the rights of the oustanding balance. Although my grandmother did not know it according to the loan agreement if the buyer was late on a payment the loan could be due at that point for the balance and any payment after that was interest only. The buyer made late payments starting as early as March of 95! Also they have not made a payment since July of 2000! What should I do? If I take back the property I could maybe sell it for $25-$35K when fixing it up. What is the first step and how should I proceed. I have had many different ideas such as offering the buyer $1,500 to give back the property and leave, or just evicting them.
Thank you for your wisdom.
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I am thinking about buying an owner financed mobile home but the home isn’t in…
I am thinking about buying an owner financed mobile home but the home isn’t in her name as her mother died suddenly a year ago at 69 and she didn’t have a will and it never went thru probate and she doesn’t want it to because it can take years, is there a way to do this? The space rent is behind $5,400 can they go after the daughter or myself for this? I really want this mobile how can this be done?
Judy
Ca.
I manage a mobile home park in california we rent spaces to mobile homes and…
I manage a mobile home park in california we rent spaces to mobile homes and trailers. We had a tenant that moved a trailer on a lot many years ago and was paying the rent on the lot in sept of 2007 the payments stoped coming. we sent out all the proper papers to his address he contacted us and explained that his mother took care of paying all of his bills but had died .so he sent us a check and cought up on the overdue amount and stoped paying againand that was november of 2007 we sent all the right papers again but got no response we then filled with the court and posted pay or quit and abandinment notices on the trailer and sent copies to the tennant with no response. In lite spring of 2008 sombody saying that he was brother of the tennant and that our tennant had also died and the trailer was there dead mothers and not his. we informed the brother that he could not remove the trailer until all the back rent had been paid and he left.we then found out that the trailer was put into probate so we hired a lawyer threw a mobile home assoc.and he was useless didn’t know what he was doing we are now in summer of 2009 we reciveda letter from the estate informing us that they were going to forfit the trailer to us to settle tha debt and send all the paper work to us it is now april 2010 and have not recieved any paper work at all.
My question is how do we get a title for this trailer so we can sell it to recoupe 16 -18 months of back rents
Thank You Mark
(ps) sorry for the novel
Understanding Chapter 7 Homestead Exemption After a car accident in 1999, my…
Understanding Chapter 7 Homestead Exemption
After a car accident in 1999, my husband and I have lived off of our credit cards, until they were maxed out. Currently the minimum payments are getting harder and harder to make, and we have fallen behind. We are looking into Chapter 7 filing, but are confused about the homestead exemption in KY. I used my $40,000 settlement to pay down our mobile home. It’s current value is $43,500 and I have a loan against it for $12,500. Would we lose our home if we filed Chapter 7? Our only other assets are a car valued at $2,500, with a lien on it to my father, and a truck valued at $200. Would we lose one or both of those vehicles under Chapter 7?
How do I force a mobile home from my park for rental arrears?
How do I force a mobile home from my park for rental arrears?
I have a small 15 space park. A tenant has been getting behind on rent with empty promises and some small payments and owes almost three months rent plus late charges. I handed them a written notice on Aug. 1 demanding payment in full or move the home from the park in 5 days. No response until Aug. 21 when they came and tried to pay 1/3 of the arrears. I refused anything less than full payment. I have been lied to so many times that I want rid of them. How do I get them and their home out and is there any recourse to get the past due rents?