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demismom 09-12-2007, 11:34 AM My Mom is pretty much judgement proof. She only gets SSI and SS of $643 a month.
We found her an appt and she's walking away (literally from her house). Should we call the Mortgage company and tell them anything and if so what? It's a double wide trailer, very nice, in a nice trailer park, but she's being evicted for non payment of lot rent. The landlord said before she leaves he wants the title to the trailer. Does he have rights to it at all? He owns the trailer park, NOT the mortgage.
Anyway, someone offered to give her $5000 cash and will move the trailer AND take over payments, NOT assume the mortgage. I told her I didn't think that was a good idea, am I right? If they stop paying, she's STILL on the hook for the mortgage right?
Boscoe 09-12-2007, 12:03 PM Taking over payments - bad idea right????
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My Mom is pretty much judgement proof. She only gets SSI and SS of $643 a month.
We found her an appt and she's walking away (literally from her house). Should we call the Mortgage company and tell them anything and if so what? It's a double wide trailer, very nice, in a nice trailer park, but she's being evicted for non payment of lot rent. The landlord said before she leaves he wants the title to the trailer. Does he have rights to it at all? He owns the trailer park, NOT the mortgage.
Anyway, someone offered to give her $5000 cash and will move the trailer AND take over payments, NOT assume the mortgage. I told her I didn't think that was a good idea, am I right? If they stop paying, she's STILL on the hook for the mortgage right?
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Bad bad bad. Yes, ABSOLUTELY she is still on the hook for the payments if this other person stops paying. DON'T do this!!!!
How much does she owe on it? As far as the landlord, each of these parks is different. He probably owns the land the trailer is on, but not the trailer itself. So, if he evicts, she would need to move the trailer or sell it to him. But that can't happen unless the mtg co agrees, which is doubtful if she is upside down.
Need more info.
What is the principle on the mortgage?
Is her mortgage assumable? Usually only old VA or FHA loans are assumable.
What type of loan is it and who is the lender? (secured mortgage, personal loan, etc?)
Does the landowner hold the mortgage? (if she bought it from him)
What is market value of trailer? Trailers, like cars, depreciate.
Transfer of title on a trailer is same as transfer of an auto.
The land owner has to have a judgement before he can ask for the trailer. He has no financial interest in it if he is not the lien holder.
If you can offer more info, I can better help you.
Minnymouth 09-13-2007, 07:26 AM If the lot owner does not have a lien on the trailer he cannot seize it..... only the mortgage holder can do that. Lot owner can only file a claim in small claims court and collect his money that way.
Taking over payments is bad idea, seldom ever works out like its supposed too.
If she is going to default on the mobile home, she needs to notify the people to come and get it, move out, and stop paying lot rent on it.....
Let the lot owner fight it out with the mobile home owners....
demismom 09-13-2007, 10:39 AM Thanx everyone! I thought it was a bad idea and it turns out the guy changed his mind anyway, but the landlord of the trailer park is still demanding the keys AND title to the trailer. Her mortgage is with GreenTree Mortgage Co and that's NOT who owns the trailer park, as far as I know. I'm fairly certain the trailer is worth far less than the $37,000 she still owes on it, but I'm not a realtor, so I can't be sure, of course. I haven't seen the mortgage or the title, I forgot to remind her to show them to me today. I got sick and had to leave early. :(
What should I recommend to her if in fact the landlord does not have a lien on the trailer?
Boscoe 09-13-2007, 10:45 AM So DenisMom, what did you do with the trailer in the bk? Did you say you would surrender or reaffirm?
demismom 09-13-2007, 11:47 AM This is my Mom's trailer and she has not filed BK.
Landowner cannot seize the trailer but.....check her lease with the trailer park owner. See if there is some kind of clause in there stating that if back lot rent is owed, landlord has any rights to the trailer. This guy cannot be that stupid. He knows he has no rights to the trailer, yet he keeps demanding it. Might be something funky in the lot lease.
dscurlock 09-13-2007, 07:13 PM Thanx everyone! I thought it was a bad idea and it turns out the guy changed his mind anyway, but the landlord of the trailer park is still demanding the keys AND title to the trailer. Her mortgage is with GreenTree Mortgage Co and that's NOT who owns the trailer park, as far as I know. I'm fairly certain the trailer is worth far less than the $37,000 she still owes on it, but I'm not a realtor, so I can't be sure, of course. I haven't seen the mortgage or the title, I forgot to remind her to show them to me today. I got sick and had to leave early. :(
What should I recommend to her if in fact the landlord does not have a lien on the trailer?
I do not think the lardlord is that bright...she would not have a true title to the mobile until it was paid off, she could give him whatever papers she wants, and still that would be no good, as she would have to sign the home over to him, and its not hers to sign-over... sounds like to me this idoit is trying to get a free home out of the deal....he could always file a lien on the mobile, but the mobile still would not be his...the mobile place would just come get the trailer, pay off the lien, and re-sell the mobile...
if she is just going to walk away... then she needs to contact her morgt company and say come get the home, it would be a volunteer repo, and a repo is still a repo on a credit report.
the lot owner is on crack, he will never have rights to this mobile unless he goes to proper channels and buys it...he is probably thinking this mobile is already paid for and hes going to get himself a free trailer...he's mistaken bigtime....
dscurlock 09-13-2007, 07:17 PM If the lot owner does not have a lien on the trailer he cannot seize it..... only the mortgage holder can do that. Lot owner can only file a claim in small claims court and collect his money that way.
Taking over payments is bad idea, seldom ever works out like its supposed too.
If she is going to default on the mobile home, she needs to notify the people to come and get it, move out, and stop paying lot rent on it.....
Let the lot owner fight it out with the mobile home owners....
sounds like the home owner wants to walk away... so it will be the lot owner vs the bank...the bank is going to win...they will come get their trailer when they feel its time too.
dscurlock 09-13-2007, 07:22 PM Landowner cannot seize the trailer but.....check her lease with the trailer park owner. See if there is some kind of clause in there stating that if back lot rent is owed, landlord has any rights to the trailer. This guy cannot be that stupid. He knows he has no rights to the trailer, yet he keeps demanding it. Might be something funky in the lot lease.
it it violates the law, then it does not matter whats in his lease...he can not say if you are behind and do not pay your lot rent then your trailer is mine...The bank will have a problem with that...he is fairly powerless, he basicly can keep adding up lot charges... even if the trailer was paid for, and she just walked off, legally he still could not own the trailer unless he goes throough a long series of hoops...but the mobile is NOT paid off, and that makes things a lot more complicated for MR Lot man.
Lets say Lot man does get the keys, and papers that mean nothing, what then? he will more then likely
put renters into the trailer...well at the same time, month after month goes by...Banker says "we are not getting paid, its time to repo the trailer" .. Mr Banker is then going to get a court order to evict anyone in that trailer for non payment so they can do a repo... I see the current renters being screwed, now they are going to have to pack up for something they did not do.... but they can hold MR Lot stupid responsible for that. The bank is going to get their trailer one way or another, and it doesnt matter if lot man has keys and papers or not...its simply just not his trailer.
demismom 09-14-2007, 03:03 AM Thanx - that's exactly what I thought. I'll have her call the Mortgage Company today and ask them what to do with the title/keys, etc. :)
Still, check the lease first. If by chance, there is a clause in there stating that the park owner has any claim on the trailer and IF the mortgage company agreed to hold second position(subordinate) to the lot owner, then no law is violated. The lease is a valid contract.
Sounds like this owner is blowing smoke and still amazes me that he does not know he has no right to the trailer nor can he do anything even if he has the keys!
Also, check the title of the trailer with the motor vehicle dept.
Make sure that the landowner is not on the title. He shouldn't be, but who knows what this guy has done!
Make sure, also, that Mom has paid the sales tax on the trailer and that the title registration is up to date with motor vehicle.
This landowner is either very stupid or very savvy.
dscurlock 09-14-2007, 09:11 AM Still, check the lease first. If by chance, there is a clause in there stating that the park owner has any claim on the trailer and IF the mortgage company agreed to hold second position(subordinate) to the lot owner, then no law is violated. The lease is a valid contract.
Sounds like this owner is blowing smoke and still amazes me that he does not know he has no right to the trailer nor can he do anything even if he has the keys!
Also, check the title of the trailer with the motor vehicle dept.
Make sure that the landowner is not on the title. He shouldn't be, but who knows what this guy has done!
Make sure, also, that Mom has paid the sales tax on the trailer and that the title registration is up to date with motor vehicle.
This landowner is either very stupid or very savvy.
what does that mean "hold a second position?" no matter what she signed in her lease, another contract would have to be signed between the mortg company and lot owner to deal with a trailer issuse, i doubt a mortg company will freely just give up a claim on their assets., that does leave an interesting question, what can the lot owner do by law if home owner leaves, and does not take their mobile. Its one thing if the trailer is paid in full, and im certain the lot owner would still have to go through a process to take someones trailer, but its a completely different story if a good amount of money is still owed on the trailer, that means the bank owns that mobile, not the person, not the lot owner.
no, he would not be on the title, he would have had to went through the home purchase process in order to get on the title, but if he did, then he could assume responsibility for the mobile if she walks, in all honesty, sounds like he is just a lot owner, i dbout he is on the title what-so-ever.
I would be interested to see how this plays out.
dscurlock 09-14-2007, 09:20 AM Thanx - that's exactly what I thought. I'll have her call the Mortgage Company today and ask them what to do with the title/keys, etc. :)
its just a piece of paper, and a pair of keys, you do not have anything the bank does not already have or can not get. regardless, they are probably going to say send them back to whoever, you main goal is to tell them your intent to give up the mobile home, and clean out anything in the home you want to keep, they wont care whats in the home, they will disconnect everything, secure, and haul it away, unless they have some deal with the lot owner, which i doubt...
Title to property and the mortgage note are separate entities. You can buy a house, qualify for the mortgage yourself and then put whomever you want on the title. Title to the trailer is like the title to a car, not a house.
I am just trying to figure out scenarios as to why this guy thinks he has any rights to this trailer. Wondering if he made mom do something with the title, etc., that secures his interest in this trailer.
As for lien holders...each one has a "position" either designated by a contract or by timing of lien recording. Some liens can kick out other liens simply by their nature, such as property tax liens.
Please let us know how this turns out. I would love to know what this landowner is up to, since I have never come across this before.
dscurlock 09-14-2007, 09:45 AM Still, check the lease first. If by chance, there is a clause in there stating that the park owner has any claim on the trailer and IF the mortgage company agreed to hold second position(subordinate) to the lot owner, then no law is violated. The lease is a valid contract.
Sounds like this owner is blowing smoke and still amazes me that he does not know he has no right to the trailer nor can he do anything even if he has the keys!
Also, check the title of the trailer with the motor vehicle dept.
Make sure that the landowner is not on the title. He shouldn't be, but who knows what this guy has done!
Make sure, also, that Mom has paid the sales tax on the trailer and that the title registration is up to date with motor vehicle.
This landowner is either very stupid or very savvy.
One other thing, even though the lot guy demanded keys and title, i have yet to hear of him producing any type of documents from the mortg company saying he would have rights to the mobile home if she leaves, if he can not provide any such documents then what he is doing would be considered illegal...her lease with the lot owner would have been between her and the lot owner, not the bank...so it really would not matter what he has in his lease (unless he did have a deal with the bank) and i doubt that, I know banks, they do not make deals that easily...banks can be very hard to deal with...
lot rent is what? $200-$300/mo and that mobile
cost how much $35,000 - unless he was willing to assume
payments for this mobile, in my opinion he doesnt have any rights to anything but the crap in his hand, and the lot he stands on....he can only do what the law says he can do, but he will not have a chance, the bank will come and get that mobile home.
how many months is lot rent behind anyway...
dscurlock 09-14-2007, 10:00 AM Title to property and the mortgage note are separate entities. You can buy a house, qualify for the mortgage yourself and then put whomever you want on the title. Title to the trailer is like the title to a car, not a house.
I am just trying to figure out scenarios as to why this guy thinks he has any rights to this trailer. Wondering if he made mom do something with the title, etc., that secures his interest in this trailer.
As for lien holders...each one has a "position" either designated by a contract or by timing of lien recording. Some liens can kick out other liens simply by their nature, such as property tax liens.
Please let us know how this turns out. I would love to know what this landowner is up to, since I have never come across this before.
I want to disagree with your first statement, if a propery is paid off then yes you can change the title that easily, but for something like a house, to be put on the title means you are accepting responsibily for the home, means you would have to go through a loan process and all that to get on the title...this is for their protection...
my wife has a car in her name...and ive already tried to be put on the title to her car which is not paid off, you have to remember, this title belongs to the bank, not my wife, for things not paid off, I doubt you can just be placed on titles at will, in order for me to get on her title, i have to go through the process, credit check, and all that, the bank is protecting there property...this is why im not on the title.
yes, you can put someone on a title, but for something like a home that isnt paid off, they will have to go through a process. I had a single wide in my name before, I tried to add my wife to the title, the bank would not have that, unless she went through a long process....you just cant call the bank up and say i want so and so on the title, then boom its done, it does not work that way, the bank would not be able to protect their interests that way...
dscurlock 09-14-2007, 10:12 AM Still, check the lease first. If by chance, there is a clause in there stating that the park owner has any claim on the trailer and IF the mortgage company agreed to hold second position(subordinate) to the lot owner, then no law is violated. The lease is a valid contract.
Sounds like this owner is blowing smoke and still amazes me that he does not know he has no right to the trailer nor can he do anything even if he has the keys!
Also, check the title of the trailer with the motor vehicle dept.
Make sure that the landowner is not on the title. He shouldn't be, but who knows what this guy has done!
Make sure, also, that Mom has paid the sales tax on the trailer and that the title registration is up to date with motor vehicle.
This landowner is either very stupid or very savvy.
This has been entertaining :)
but im telling you, if this guy had any legal documentation
giving him rights to the trailer, he would have produced
them by now, and he would have placed
a vacate order on her to get her out and some
other renters in...
at best he could put a lien on the trailer by taking her to court, and have the court decide on how to deal with the mobile home...but if the home is surrendered, it will be taken off the lot well before this case sees a court room.
he will more then likely do what he can do get
his lot rent, he will probably be unsuccessful.
Banks do not go on the title to your house and do not decide who goes on the title. Only you do.
demismom 09-15-2007, 02:36 AM Well, I remember 12 years ago when she bought the trailer with $20,000 down, and yep, STILL owes $37,000 (refied several times, evidently), she bought the trailer while it was in the trailer park. Maybe he already owned it and never transferred the title? But, I doubt that the mortgage company would have let him do that. At any rate, I'm going over there this morning and will look at both the mortgage papers and the title to see what is up.
I told her to call the Mortgage company on Monday anyway just to get it straight from the horse's mouth just what to do with the title and keys.
dscurlock 09-17-2007, 03:10 PM Banks do not go on the title to your house and do not decide who goes on the title. Only you do.
You are correct, banks do not go on the title, they
just hold the title... you apparently never tried.
banks or whoever holds that title do not randomly let
people on titles (unless the title is clear, paid off, etc)
sure its possible for you get to on the title if you can
jump through the hoop process that the bank will
want you to do...Ive already tried, my wife has tried,
there is no way i can get off our mortg home loan, for
the simeple fact that I signed papers to take responsibilty
for this house, so i just can not jump off the title at will.
the only way for me to get off is let the house forclose
divorce, or sell the home, that is the only legal way we can
get off the title to the home.
this discussion is over, and is not up for debate.
I am sorry dscurlock, but you are wrong. Title varies state to state, but you can add someone to the title of your house even though it still has a mortgage on it.
You cannot add or take someone off the existing mortgage.
demismom 09-18-2007, 03:30 PM Why is this thread too long?
I haven't had a chance to look yet, but I AM curious as to what is on the title AND mortgage.
How is that? lol
Hey Demi, let me know how this turns out. Best of luck with it.
demismom 09-25-2007, 05:54 AM We talked with the mortgage company and they said my Mom should just give the title to the park owner. :( I guess he was right after all. As soon as she's out of the trailer they will take possession of it and start all the legal mumbo jumbo. :) So, I guess that's it. I'm sure they'll try to garnish my step dad's wages, but I work for the same company he does and do the payroll (nice, huh?). He already has 3 garnishments, so they'll get nothing!
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