Hey Tim(Atlanta)GA Senate Bill 422 - Posted by DataMinor2

Posted by dandrews on April 02, 2002 at 16:13:35:

Maybe it is that the reposessing company is liable for only up to two months back rent. This went into effect not too long ago in Maine. Park owners were holding finance companies hostage by requiring rent be paid, but not doing anything to accommodate the sale of the home. Their own home sales were competing.

Some banks were saying forget it, we are paying nothing, come get us in court, cause we have better lawyers.

Requiring finance companies to pay up to three months of back rent (in Maine) was the compromise. Logic being, if the finance company isn’t going to pay, the park owner should just evict them like any other tenant. And if the tenant owed more than that at time of repossessing, park owner was not doing his job right.

Hey Tim(Atlanta)GA Senate Bill 422 - Posted by DataMinor2

Posted by DataMinor2 on March 29, 2002 at 20:04:33:

This bill didn’t pass, “this time”, but I’d like to now your thoughts on this. In a nutshell, any repo requires owner to pay 2 months lot rent to park prior to removal of mobile. Anyway, that’s my read. ???

Re: Hey Tim(Atlanta)GA Senate Bill 422 - Posted by Tim (Atlanta)

Posted by Tim (Atlanta) on April 01, 2002 at 06:32:31:

I can’t say that I have read the bill. I guess we will have to worry about it next time around. I don’t see that Conseco or the other big lenders are going to pay 2 months extra lot rent just to remove a repo. I could be wrong on that. Never underestimate the stupidity of politicians.