Tenants abandoned, left desperate - Posted by Steve,Tx
Posted by Steve,Tx on February 16, 2000 at 23:06:43:
Desperately need advice. Here is the situation. We recently took over management of a family mobile home park and had some tenants move a new 16x80 onto one of our lots in November. Earlier this week, they moved under the cover of darkness, abandoning their new trailer. The park recently went under an expansion and needs to collect all lot payments to survive. Our question is, how many payments behind do the tenants need to be before the mortgage company repossess the trailer? It is our understanding that once the trailer is repossessed, the mortgage company must pay the lot payments as long as it sits on the lot, but this could take months, how do we get lot payments while the trailer is on the lot before it is repossessed? Unfortunately, being a new trailer, neither we nor the park is capable of assuming payments. Any advice would be very appreciated!