Mobile Home Reposessed

I had my MH reposessed--3 months back mortgage--20k appraised val--vs-34k owed on the note (Greentree--many problems with them--they stink)

Am I Likely to be sued for difference?
What can be done about that?

It depends on whether you state allows deficiency balances on Mobile Home loans. My guess is they do, but it depends. The reason I can't say for sure is that for conventional home loans (real property), 1st mortgagors in most states are not allowed a deficiency balance...so you will have to ask someone knowledgable in your state.

If they are allowed to claim a deficiency balance, the odds of being sued depends on how good a suit candidate you are. When it comes to collections, suit is usually the last step in collection (because of the cost and they have to substantially split the recovery).

Thanks HHM

Great detail and most helpful

Much appreciated!