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Updated about 5 years ago,
MH repossession. MH park is asking me to cover the rent.
Hi- I need advice from anyone who has any Mobile Home (MH) experience. I'm a lender to a mobile home owner whose MH is residing in a private MH park. The owner has defaulted on his loan already with me and is also not paying rent to the park. As such, the park has taken him to court last Thursday in an attempt to evict him. As of today, the owner is still in his MH and is claiming he will pay the park (he has not done so). I'm in a compromising position because the title of the MH is under the owners name with me as the lien holder. We have a contract with me as lender. However, the MH Park has been and is holding on to the physical title in their locked up files. So here are my questions:
1) as lien holder to title, Don't I have right to get physical title back from the Park?
2) dont I have right to repossess the MH?
3) the Park is telling me that I am now responsible to pay them for the backed up rent incurred by owner (approximately $2,000). And If I don't, I face losing possession of the MH to the park. Is this true? How am I legally responsible for paying the owners rent?
Any advise & suggestions?