Repossessed Mobile Homes - A Guide To Finding Mobile Homes In Foreclosure
Filed Under Business | Posted on July 30, 2008
Sadly not everyone who buys a mobile home can afford it. When they figure out how much they can afford in monthly home payments, they may forget to calculate in lot fees, utilities, taxes and the like. Plus, since many mobile home buyers arrange for their financing through the mobile home manufacturer rather than through a bank - most mobile homes are financed via personal property loans, not traditional real estate mortgages - people are more likely to have been sold a home they cannot afford. Not only that, but such loans do not have foreclosure protection and the mobile home can be repossessed, just like a car, without notice or going through foreclosure proceedings.
