Posted on: 13th Aug, 2013 11:45 pm
What will happen if a mobile home on a rented property gets foreclosed?
Hi Guest,
The lender will sell off the mobile home in order to recover as much dues as possible and you will be liable for paying the deficient balance resulting from the sale of the property.
Take care
The lender will sell off the mobile home in order to recover as much dues as possible and you will be liable for paying the deficient balance resulting from the sale of the property.
Take care
Hi Guest!
Welcome to the forums!
It should also be noted that the foreclosure will have a negative impact on your credit scores. As a negative item, it will remain mentioned in your credit report for 7 years and your scores might get reduced by 250 points.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
It should also be noted that the foreclosure will have a negative impact on your credit scores. As a negative item, it will remain mentioned in your credit report for 7 years and your scores might get reduced by 250 points.
Feel free to ask if you've further queries.
Sussane