What Happens At Foreclosure?
Q: As a quick recap, My proporiety consist of an acre of land and mobile home. The issue is I don't have title to the mobile home? But I do have title/deed to the land? My question is if there are no outstanding liens on the mobile home, what happens at foreclosure? Will the auction be just for the land? Is the well permit automaticaly included?
A: -The answer depends on which state you live in. In some states, a mobile home can be homesteaded, and exempted from the bankruptcy. I strongly recommend that you speak with your bankruptcy attorney. -I live in Colorado, from what I've read on the web it appears that CO does homestead mobile homes? Back to my guestions about bank foreclosure, if I pay the property taxes prior to the foreclosure auction what happens to the mobile home? Keeping in mind that I don't have the mobile home title?
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