Posted by Lonnie Scruggs on January 07, 2003 at 16:54:05:
I second that motion. Tony certainly deserves a lot of credit for all the time, advice and info he shares with everyone.
FYI, Tony will be at the MH workshop next month. So, here?s your chance to spend 3 days and nights with him. (That alone is worth the price of the workshop). Maybe he will tell you about his latest MH venture that he?s about to close on. Congratulations Tony, it couldn?t happen to a nicer guy.
Happy investing,
Lonnie
judgment question/repossession question - Posted by JoeP(VA)
Posted by JoeP(VA) on January 07, 2003 at 11:40:52:
When i go to court to repossess a mobile home and seek a judgment, due to my tenant not paying on time, what amount do i sue for? the amount that they have not paid, or the amount of the entire note? For instance , if i financed one of these MH’s for 10k and my tenant has put 1k down and has paid 200 a month for 6 months, and now my tenant is a month late, what amount do i seek judment for? do i seek judgment for the entire amount left from the 10k that they havnt paid? or just for the 200 they owe and the late fees?
Re: judgment question/repossession question - Posted by Tony-VA
Posted by Tony-VA on January 07, 2003 at 13:37:42:
If you sold the home (no tenant) on a note, and they have defaulted on the note, then you are calling the entire balance due. That is the amount you sue for. Not just the last payment they missed.
Now in reality, if they show show up at court with what they owe for the month, plut late fee, plus court fees and you will drop the case. This is if they show up at all.
You will be suing for the balance of the note due but you will likely be awarded EITHER possession of the home OR the judgment. I think Lonnie occassionally gets both but I never had that experience. No matter either way, the judgement would not likely be worth anything but repossessing the home for resale certainly is.
Tony-VA
Re: judgment question/repossession question - Posted by JoeP(VA)
Posted by JoeP(VA) on January 07, 2003 at 14:37:26:
Thanks for replying Tony, you should get some kind of award or something for all the help you give people here on this site. It doesnt seem right that a judge would just give you a judgment or possession and not both, at least the judge could award the tenant to pay the back rent that they owe. I went downtown and filed a “warrant in detinue” and it was easier than i expected…thanks for all your help and reply’s…