My question involves a foreclosure in the State of: California
I bought a manufactured home in late 2007 which is located in a park which I pay monthly lot rent. I have been trying to sell for the last four months but no luck due to the market. My income has been greatly reduced in the last month and I won't be able to stay current more than two more months with the mortgage. The manufactured home is held by title and not by a deed so I understand it would be considered a repossession instead of a foreclosure. Can some one explain what the laws are in California regarding repossession of a manufactured home? Does the lender have to give me notice prior to taking possession of the home? If so what is the time frame? Can I be held liable for any deficiency in the loan amount? Any information would be greatly appreciated.