Facing foreclosure or repossession on your mobile home? Selling first may protect your credit and your equity. We buy mobile homes for cash, as-is, and the lender is paid off at closing. The sooner you call, the more options you have.
Falling behind on payments is stressful, and the paperwork from the lender can be confusing. The sooner you act, the more options you have.
Two different processes
- Home with land, financed by a mortgage or deed of trust: NC lenders usually foreclose through a “power of sale” process before the Clerk of Superior Court, which includes notices and a hearing before any sale.
- Home financed with a chattel loan (common for park homes): the lender may be able to repossess the home as personal property after default, following NC’s rules for secured lenders.
In either case, a sale before the process is complete can pay off the loan and leave you any remaining equity.
How we help
- Get the payoff and arrears from the lender (with your permission).
- Make an offer that covers the payoff where the numbers allow.
- Close through an attorney (land) or with a lien payoff and title transfer (park home).
If you owe more than the home is worth, we’ll tell you plainly. NC also has free foreclosure prevention counseling resources, and a HUD-approved housing counselor may help you weigh options.
Related: owe money or lien, back property taxes.