Posted on: 06th Jul, 2011 08:49 am
If I DID NOT put my land up for colateral with the mobile home, and have not missed a payment on the mobile home can the the mortage company pay a tax bill and add that to the loan on the mobile home? Our land has only $1800.00 owed on the land and now the mortage company is trying to have the taxes sent to there office so they can pay them and add that to our loan as escrow. I feel the mortage company is trying to take a lake front piece of property is this legal? The property was never a part of the loan on the mobile home.
You need to check your loan documents and see if the land was included in the financing. If the land was not part of the financing, which is rare, then lender would not have rights to the property. If you dont pay your insurance and taxes on the mobile home, then the lender will force place your insurance. Call your lender and ask why they are taking the money.