Posted by chill on July 18, 2010 at 21:17:20:
Tony & Bill,
Thank you both for your responses. You have both helped us a great deal in seeing this situation more clearly.
mobile home repossession - Posted by chill
Posted by chill on July 18, 2010 at 13:26:36:
We own a mobile home park in which we have sold a few of the mhs to residents with a mortgage note. One of our residents moved out of her home 6 months ago, buying a house on the government’s promise of $6000 for being a 1st time home buyer. Her dad moved into the mh and she was going to continue to make her payments. But she hasn’t paid in 6 months, except for small amounts of her water bill. We delayed foreclosing because she kept telling us the money was coming from the government. Now the IRS finally told her she won’t get the payment because she was already a home buyer (which we told her in the beginning). So everyone has moved out and moved their belongings. Is it necessary to do any formal repossession in order to reclaim and re-sell the house. She acknowledges that the mh doesn’t belong to her. We’d rather not get involved with a lawyer if it isn’t really necessary. We are in Texas. Thanks.
Re: mobile home repossession - Posted by Tony Colella
Posted by Tony Colella on July 18, 2010 at 21:07:46:
Chill,
As a park owner you need to know the landlord/tenant laws and mobile home laws of your state very, very well. It will serve you well to ask the other local park owners in the area how they handle things but most importantly you need to check what they say with the local courts and perhaps an attorney. Usually you need only consult the attorney once and from there you have your system in place.
You are also using improper terminology which may make your repossession all the more troublesome. You want to clearly state exactly what the contract is and what it means.
“Mortgage” is a term to describe a note secured by realty (land) and not personal property (the mobile home). Since you are the park owner, I take it that you are only selling them the home and not the land. Once slip of the term “mortgage” or “foreclosure” in a courthouse and you will be facing long and expensive delays when none are necessary.
Promissory notes secured by the mobile home (just like a car loan) sounds more like what you are describing. Abandonment as defined by your state should help you a great deal in how to proceed with this mobile home.
Tony
Re: mobile home repossession - Posted by bill russell
Posted by bill russell on July 18, 2010 at 20:22:19:
The contract has ended. The agreement has changed, there is no agreement anymore. The mortgage was just a part of the contract sale as a lien, it is no longer necessary because there is no loan anymore. They quit. IF Texas makes you do anything more than uncloud the title now, they are stealing your money. The deal is off, the tenants are gone, just fix the paper work and sell it again.