have before i am forced to move? does the notice have to be a written, verbal or does it matter? my home is a manufactured home so does that have any effect or are forecloser laws still the same as usual?
2006-08-25 17:44:37 · 8 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
The notification has to be written; you have to be served in person or by certified mail; and usually the property is posted with notification as well. I assume that you are facing forclosure under the terms of a Note and Deed of Trust. Normally it takes an average of 90 days to finalize a foreclosure from the time of notification to the day the property is sold on the courthouse steps. I don't know for sure, but I doubt that the fact that you property is a manufactured home has any bearing one way or another - unless it sits on rented/leased land. If the bank has said that you "are facing foreclosure" it doesn't sound like the wheels are in motion yet. There are options called recasting a mortgage and forebearance, which most lenders won't offer and don't like to use, but communicate with your lender and negotiate a workable arrangement - in the grand scheme of things related to foreclosures, $1,500 is not that much to the lender. If you can't successfully negotiate this on your own, get yourself some legal assistance. Good luck - do what you can to save your home!
2006-08-25 18:21:34 · answer #1 · answered by Annie 4 · 0⤊ 0⤋
The answer depends on your state. In foreclosure of a mortgate you have to receive a court summons and various other court documents, and finally a judgment. You have certain rights of redemption depending on state law.
In most, perhaps all, states manufacturered homes -- if they have a real estate mortgage -- are treated like any other. But it isn't clear what kind of loan you have other than that it's a secured one.
You really should contact a legal charity, and not ask these questions on Yahoo! Answers.
2006-08-26 03:21:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I can't imagine that any reputable bank would attempt to foreclose any earlier than what is prescribed by law. In any case, they'd rather accomodate you making mortgage payments than be stuck with a house to sell. If you have any possible ways of coming up with the money in the near future, go in and try to convince them it is in both your interests to come to a mutually satisfying agreement.
Good luck, bud. I'm praying for you.
2006-08-26 01:05:52 · answer #3 · answered by vinny_the_hack 5 · 0⤊ 0⤋
Ask for extension to pay the debt and file a temporary restraining order against the foreclosure.
2006-08-26 00:56:27 · answer #4 · answered by FRAGINAL, JTM 7 · 0⤊ 0⤋
Normally about 90 days.
2006-08-26 03:56:46 · answer #5 · answered by LORD Z 7 · 0⤊ 0⤋
workout some form of agreement that small money it would cost the bank more in legal fees to enforce it you can file chapter 13
2006-08-30 00:25:32 · answer #6 · answered by aldo 6 · 0⤊ 0⤋
probably 5 or six years. nobody else wants your trailer house and apparently neither do you.
2006-08-28 19:22:26 · answer #7 · answered by Anonymous · 0⤊ 0⤋
it has to be written
2006-08-26 00:52:05 · answer #8 · answered by Shaun M 1 · 0⤊ 0⤋