Repossession Question.

[Scotty]

I know it's kind of an odd question but here I go.

When my Dad moved out in August my Mom and I found out that we were 8 months behind on the trailer, 3 months behind on the cell phone, and among other things he never gave us a dime. With me being 19 years old, I have been trying to find a job but there are none to be had in a little town like this one. We found out that the trailer was gonna be repossessed, and the truck repossessed, and the cell phones were cut off so we had to move in with my Grandmother. The police called and told us Monday that we had to get the dogs off the property because with no house there it was illegal or they were going to the pound so we had to get rid of them. Now it is Wednesday and there is a huge FOR SALE sign inside the house and I wanted to know if they are gonna sell the property (it's already paid off and taxes are paid up) or just the trailer. Also if they are only gonna sell the trailer, will they have to move it off of the private property or can they leave it there for our piece of shit neighbors to come onto our property while we aren't there? If anybody knows or has been through this please let me know.

 

[Cena's Little Helper]

If you own the land, then I don't see how they can take it, unless there's some sort of lien on it. If you have the deed to the land and you have not used your land as collateral for any kind of loan, then you should be fine.

 

[Scotty]

See that's what I don't get. The land is in my Dad's name because my Mom was to young when they got it for a wedding present so we have no idea and the divorce lawyer would surely have said something about that right?

 

[FromTheSouth]

Ahh, property law. Let me help you out.


If your mother won the land in the divorce settlement, it is paid off, current on taxes, and you have the deed, then they can only sell the trailer. Now, here's the problem. Most people who buy trailers use their land as collateral against the loan. This is because the people who sell manufactured homes offer nothing down and some kind of introductory interest rate if you use the land as collateral. The thought there is that if you pay off the trailer, awesome, if not, they have a home on a site to sell. In some kind of awkward math, a $40,000 trailer on a $15,000 piece of land is worth $70,000, so it is in their best interest to try and get you.

Find out of the land was used as collateral, and then you can get the answers to your questions.

 

[Scotty]

Ahh, property law. Let me help you out.


If your mother won the land in the divorce settlement, it is paid off, current on taxes, and you have the deed, then they can only sell the trailer. Now, here's the problem. Most people who buy trailers use their land as collateral against the loan. This is because the people who sell manufactured homes offer nothing down and some kind of introductory interest rate if you use the land as collateral. The thought there is that if you pay off the trailer, awesome, if not, they have a home on a site to sell. In some kind of awkward math, a $40,000 trailer on a $15,000 piece of land is worth $70,000, so it is in their best interest to try and get you.

Find out of the land was used as collateral, and then you can get the answers to your questions.

Okay, the divorce is still going on and probably won't be final until January 21st and my Mom said the land has NEVER been used as a collateral. Yeas the land is paid off. It was a wedding present from my Grandparents on my Mom's side but my Dad still has the deed......somewhere. So we are pretty sure that he hasn't used it as a collateral, and my Mom said they did not in any way, shape, or form use that land as a collateral for the trailer.

 

[FromTheSouth]

Then your dad is the one selling it.

 

[Scotty]

Then your dad is the one selling it.

FUCK THAT BITCH! Now I gotta go kick his ass if he is.

 

[Turd Ferguson]

It's a Very Redneck Christmas!

 

[Scotty]

It's a Very Redneck Christmas!

Wow that's stereotypical. Just because I lived in a trailer that makes me a redneck?

 

[One Punch Doug Crashin]

I think he was trying to be funny dude

 

[Scotty]

I think he was trying to be funny dude

It's just a really bad time to be making jokes because I am not a redneck like my Dad. He is more then a redneck, he is a redneck poser. I just get a little pissed when there is a redneck joke.