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Updated about 15 years ago,

User Stats

50
Posts
1
Votes
Ivan Reyes
  • Real Estate Investor
  • San Juan, Puerto Rico
1
Votes |
50
Posts

Land, mobile home foreclosure question.

Ivan Reyes
  • Real Estate Investor
  • San Juan, Puerto Rico
Posted

I have a seller who owned land and had a double-wide put on the land. To get the house he took out a mortgage for the land/house combined.

Now he's facing foreclosure. Does this mean that the bank would foreclose on the house and get the land as well even though he owned it free and clear to begin with? Its a double-wide that's not on a permanent foundation.

Its on piers. I'm a little confused about this. Can someone shed some light.

Thanks.

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