Posted on: 25th Mar, 2011 03:37 pm
If I let my mobile home go into foreclosure, what happens about the pad site rent, plus trash and water I pay included in the rent? I need to walk away from the property and let it go back to the bank but I am concerned about the owners of the mobile home park coming after me for the rent. I live in Missorui.
Hi tucker_dg!
Welcome to forums!
If the mobile home is foreclosed by the lender, then the lender will come after you in order to recover the deficient balance resulting from the sale of the property. Unless your property is sold off at the foreclosure auction, the owners of the mobile home park can come after you for the rent.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the mobile home is foreclosed by the lender, then the lender will come after you in order to recover the deficient balance resulting from the sale of the property. Unless your property is sold off at the foreclosure auction, the owners of the mobile home park can come after you for the rent.
Feel free to ask if you've further queries.
Sussane
Hi tucker,
Welcome to Mortgage fit,
It is true that owner of the home park will come after you for the payment orelse he will put a lien on your credit report for the dues....So if you wish to surrender your mobile home to the bank that is OK but you should pay the rent to the mobile home park owner which is completely different entity in this whole matter...
Feel free to ask any further query if you have....
DIPA
Welcome to Mortgage fit,
It is true that owner of the home park will come after you for the payment orelse he will put a lien on your credit report for the dues....So if you wish to surrender your mobile home to the bank that is OK but you should pay the rent to the mobile home park owner which is completely different entity in this whole matter...
Feel free to ask any further query if you have....
DIPA