Question about being a leinholder on a mobile home

[Margaret Weyandt]

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?

[Rachel H.]

It's best to find out the exact situation. Most of what you can do will depend on the type of note you have and what you have outlined in it. If she cannot continue to pay, then she will need to surrender the home back to you as in any foreclosure situation. Then, you will need to take it back. From there, you will want to make a plan on how you will proceed (i.e. resell, rent, etc). Best of luck!