How does a lienholder regain title after occupants default?

[Sandy Uhlmann]

I have a mobile home in a park.  I owner financed the trailer.  I am listed on the title as the lienholder.  The occupants are 2 months behind on payments.  I have sent them certified and first class letter warning them they are behind.  I have two questions:

1)  Since a mobile home is personal property in Missouri rather than real property, will I have to go through a formal foreclosure?  I am thinking it would be more like repossession of a vehicle but complicated by the fact that it is occupied.  Do I technically have to evict first even thought I technically don't have a rental agreement but rather a note/loan agreement.

2)  If would to try to regain the title by telling the occupants that if they sign over the trailer to me that I would not take them to court over the missed payments.  (similar to a cash for keys)  If I were able to convince them of this, would they just sign on the sellers spot on the title?  (I have the title and am listed as the lienholder)  

Is there a better way to handle this situation?

Thanks in advance for the advice!

Sandy