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  1. #1
    Join Date
    Nov 2010
    Posts
    91

    Default Liability After Surrendering a Manufactured Home to the Lender

    My question involves a foreclosure in the State of: CA
    I own a manufactured home in a mobile home park. Due to loss of income, long term, I will not be able to pay the mortgage. I need to move to a place that is more affordable for me to live (possibly out of state). I want to surrender my house back to the lender even thou I've only missed one payment but I know I can't make the monthly payments. I also am required to give the mobile home park 60 days notice to terminate my tentacy.
    If I go ahead and give the 60 day notice to the mobile home park, what happens if the bank refuses to allow me to surrender the home? What happens if I just abandon the house and notify the lender at that time? I wouldn't be doing this till the 60 day notice to the park has expired as I want to protect myself from any judgement from them. So if I give the notice to the park and the lender refuses to take the home back would I still be responsibile for the monthly lot rent once the 60 day notice is up. Also if I call and send certified letter to lender regarding 'deed in lieu of foreclosure' or that I'm abandoning the home, what happens then.

  2. #2
    Join Date
    Sep 2010
    Posts
    19,753

    Default Re: Surrender House 'Deed in Lieu of Foreclosure' What Should I Do

    As long as YOUR property is still on the rented lot, you're liable for the rent. As you can tell a lot of banks aren't too overly eager to repo trailers these days as it opens them up to all sorts of liability.

  3. #3
    Join Date
    Nov 2010
    Posts
    91

    Default Re: Surrender House 'Deed in Lieu of Foreclosure' What Should I Do

    Thanks for the advice. I'm just trying to minimize my loss and speed things up. I suppose the best thing to do is wait till the property is foreclosed on and then they would evict me, right? Once the foreclosure is done and I'm evicted I wouldn't be responsible for the lot rent at that time. Any idea how long banks may take to start the foreclosure process on a manufactured home? How many months of no payments?

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