How do they foreclose on mobile homes?

Answer 1

Mobile homes are generally not foreclosed on in the traditional sense. Usually, this is a matter of regular collection procedures, and repossession because the homes are usually movable. After the account has gone delinquent, within 60 to 120 days, the mortgage holder will begin collection proceedings. This usually will mean they will send from one to five letters in an attempt to get you to make payments current. Some time after the first letter, you may begin to receive telephone calls making this same attempt. If the loan holder is unable to make contact or you are unable to bring the account current, they may refer the account to a third party collection agency, perhaps one with a repo division. If after this the account is still delinquent, you will be served a sumons to appear in court. If you fail to appear, a default judgment will be entered, and you will have between 30-60 days to vacate the property. If you appear in court, you may have opportunity to make arrangements to bring the account current. It is advisable to go to the court date. When you do, take all proof of income and assets. Be prepared to show the judge that you are willing to pay, and explain why you became delinquent in the first place. The judge does not want to take your home; he will do what he can to help you, within reason. If you are ordered to vacate the property, you will be given a date to vacate. If the property is not vacant on that date, the loan holder may elect to have you forcibly evicted. Usually this involves contacting the local Sheriff's department, and having you escourted from the home. Do not delay contacting the loan company. There are usually a number of options they can offer you to rectify the problem. Stay in contact with them and follow up on any arrangements you agree to, or contact them immediately if you are unable to.