Posted on: 27th Aug, 2009 10:32 pm
I am having trouble making the payment on my mobile home I am threaten evey month about them reposessing the property. If I decided to let the mobile home go back how long does this process usually take I live in NC this is a 1999 mobile home with 25000 still owed on it. I know they will not sell it an get whats still owed on it
It would not be a good option to let them repo your mobile home. You can rather try to sell off the mobile home. You can contact your lender and apply for a short sale. However, you would be responsible for paying off the deficient amount resulting from the sale of the property. Moreover, it would lower your credit score by 80-100 points.
If you want to save the property, you can even apply for a loan modification. This would help you in saving your property from being sold off.
If you want to save the property, you can even apply for a loan modification. This would help you in saving your property from being sold off.