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Updated about 10 years ago, 12/20/2014
Question about being a leinholder on a mobile home
I need some advice from someone more experienced than myself. I helped my son and his girlfriend purchase a mobile home. He wanted her name on the title so I was listed as a lienholder. We created a contract to spell out payments, interest, etc. Everything was fine until my son died this summer. Now, she gets the trailer and I get the loan. We could have claimed the loan as due and payable but she did not have the money nor a way to get it and wanted to make payments. But, she now is moving back to her home state. I know that my son's life insurance through work went to her but I don't know how much. She wants to 'work something out with the trailer'. I am not sure what options I have as a lienholder. Can anyone help?