Posted by Marty (MO) on July 13, 2007 at 12:01:29:
everyone has a lawyer on call! she sounds motivated… she should be
able to figure out a way to cash you out of the home. All she needs to
do is find someone to loan them the money out of their pension or
take out a personal loan and they can pay you off. She could cash you
out of the home and finance it to her ex!
don’t sweat it. Let her work out a solution. that’s what I’d do…
good luck!
Marty
removing spouse name on contract - Posted by latundan
Posted by latundan on July 07, 2007 at 14:44:29:
Hi I have a note on this couple who bought the mobile home but they were not married. they recently broke up and now they want to remove the name of the lady, the man will keep the mobile home to himself. is this just a quit claim deed thing? can anyone tell me the procedure for this. thank you.
Not gonna happen… - Posted by Lyal
Posted by Lyal on July 08, 2007 at 17:07:57:
Once they sign the note, they’re on the hook for the life of it. I don’t care about their squabbles. We signed an agreement and they’ll live up to it or I’ll see them both in court.
As Steve has said (or was it Marty?), if we start changing notes or contracts every time they have some “issue” in their life, that’s all we’ll do as our clientelle unfortunately has a lot of issues.
Lyal
varies state to state - Posted by Steve-WA
Posted by Steve-WA on July 07, 2007 at 16:48:12:
check with the taxing agency, if the county taxes MH sales . . . also check with the titling agency.
Ask them, they will tell you what must be paid, and then you can decide whether you want to do the legwork for them or not.
Ive done it, and I tend to take Marty’s opinion now. When paid off, THEY can straighten out the title problems that THEY caused.
not your problem! - Posted by Marty (MO)
Posted by Marty (MO) on July 07, 2007 at 15:00:15:
If I were you, I wouldn’t make this my problem. If the girl wants to give up interest in the home, fine. She can just sign the title and walk. But, if you start changing your notes every time someone has an issue, you’ll be adding and subtracting people all the time. She’s legally obligated to pay for the home. Why would you want to change that?
This is their problem- let them solve it. If it’s a big enough issue, maybe they can find the cash to pay off the note.
Just my opinion…
Marty
Re: varies state to state - Posted by Marty (MO)
Posted by Marty (MO) on July 07, 2007 at 17:16:24:
I didn’t even think about tax issues… we don’t have sales taxes on used mobile homes and mh’s are taxed as personal property- so the tax debt isn’t attached to the home.
good points!
Re: not your problem! - Posted by latundan
Posted by latundan on July 13, 2007 at 09:39:29:
Steve, Marty and Lyal,
thank you for responding. Like you said, Im not sure if we want to do this. she said she’s to get a lawyer to do this. i guess she wants to buy another home and she wants to free up her credit. thanks again.