A collection company is telling us that b/c we let a mobile home go back, that they can put a lein on our land and force the sell of that land to collect the debt. Is this true? Can they force the sell of our land? They have offered a settlement, but have only given us a week to get the money. What should we do?
Co-signed car loan
Have car loan with friend as co-signer taken out about 18 months ago or longer. His name is first on the loan. I am unable to keep the car. Financially impossible. I would like to return car to bank or him. His parents have power of attorney. What can they as co-rigners do to me in garnishment, etc. as my job now only pays 6.00 to 7.00 per hour. Cannot afford for this to happen. Have tried other ways to work our, cannot refinance due to lack of much credit history. Help is appreciated. thanks
I have a 27000.00 mortgage left on my mobile home. I am 60 years old
I have been out of work 1 year come September.
I had a saving that helped me stay afloat with all my payments but that has gone down to $2099.00.
The unemployment and pension ( this will end next year) helped pay most of my bills.
I can’t afford the repairs that this house needs and the Insurance $2000.00 that is required by the bank due in November.
I have a 401K that I was going use with my social security, but now I will need to have job when I became eligible for social security to live.
If I walk away from my home can the bank or the land lease come after my 401 K?
Thank you for your help.
Senior in Nursing Home cannot pay credit cards
My mother, age 82, is in a nursing home. Her total income is her Social Security; she is without any other financial resources. She owes nearly $13,000 on one credit card and nearly $18,000 on another. I have power of attorney and have communicated her predicament to the credit card companies. She is on Medicaid now; her total income is spent on health insurance and the copay to the nursing home. Should I file bankruptcy for her? What else should I do? What options does she have? My mother is allowed to keep $35.00 per month for personal expenses, but other than that, she has nothing. Thank you for your response.
Possible Deficiency Judgement/Claim bankruptcy?
I have some clients who I helped purchase a home in Sept. Prior to the home, the husband owned a mobile home in a MH park. The husband sold the mobile home to someone subject to his financing until the buyer could replace the financing. The mobile was only worth about 1/2 of what it was financed for (financed for $54,000, worth about $25,000). Unfortunately, the buyer failed to continue to make payments and the mobile was repo/foreclosed upon in my client’s name. My clients’ home is 100% mortgaged and their credit was impecable before this. They have asked my advice as to what they should do. I did advise them to homestead their home, but they asked me if they should claim bankruptcy. I told them I didn’t think they should file bankruptcy because I didn’t feel it was likely they would have a deficiency judgement against them as there wasn’t any equity in their home yet and that they could protect some equity with a homestead. I did tell them I would try to get more professional advise, though, so here I am. I would really appreciate some feedback. Thank you.