repossion in Colorado - Posted by Judy

Real Estate Investing Mobile Homes & Mobile Home Parks
#1

Posted by Mike Barlow on July 20, 2007 at 20:43:36:

I don’t know. Ask an attorney.

I’ve lost a lot of real estate to foreclosure and they just take the
property back and have never come after me. Since mobile homes are
personal property they would not fall into the real estate category.

I’ve repo’d mobile homes in Colorado and I just got the home back and
then filed a derogratory against the borrower.

Have you read the note and security agreement and would that give
you any ideas?

I bought a repo home this week and I was going to ask the repo lady if
they were going to go after the borrower for the loan but I forgot. I
can still ask her next week. If it was me I would find an attorney that
knows mobile home lending laws in Colorado to get peace of mind
about my mom.

#2

repossion in Colorado - Posted by Judy

Posted by Judy on July 15, 2007 at 15:36:56:

I read the message about the one in nebraska. Would you have the law for colorado? Desporate for help with medically ill mom.

#3

Re: repossion in Colorado - Posted by Mike Barlow

Posted by Mike Barlow on July 16, 2007 at 16:11:50:

What kind of help are you looking for? Where are you in Colorado?

#4

Re: repossion in Colorado - Posted by Judy

Posted by Judy on July 20, 2007 at 16:41:32:

My question is. What is the law in colorado reguarding mobile homes and repossions. Is my mother responsible for paying the difference?

#5

Re: repossion in Colorado - Posted by Judy

Posted by Judy on July 16, 2007 at 16:21:11:

Due to medical conditions and where the modular was placed my mother had to move out. I asked the park mamagement about buying it and or helping to rent it out. They were not interested in helping. My mom was (and still is) financially unable to bay for two homes. The mortgage company repoed it, sold it to the park (how sweet) and now wants my mom to pay the difference. I read on your web site that the price they get is final. We are in Arvada.