Posted on: 17th Feb, 2009 08:39 am
I have a manufactured home that I live in and am trying to sell. I pay rent on the space. we are currently selling it to get into a single family home. What kind of leagl action can the Mobile home park and the bank take up against me if I walk away from the Manufactured home and buy a single family
Hi fvera,
If you walk away from the property, the lender will foreclose the property and sell it off. This will affect your credit score badly and will lower it by 250 points. Moreover if there is a deficient amount resulting from the sale of the property, you will be liable to pay it to the lender.
If you walk away from the property, the lender will foreclose the property and sell it off. This will affect your credit score badly and will lower it by 250 points. Moreover if there is a deficient amount resulting from the sale of the property, you will be liable to pay it to the lender.