Taking over payments - bad idea right????

[B12]

Title to property and the mortgage note are separate entities. You can buy a house, qualify for the mortgage yourself and then put whomever you want on the title. Title to the trailer is like the title to a car, not a house.

I am just trying to figure out scenarios as to why this guy thinks he has any rights to this trailer. Wondering if he made mom do something with the title, etc., that secures his interest in this trailer.

As for lien holders...each one has a "position" either designated by a contract or by timing of lien recording. Some liens can kick out other liens simply by their nature, such as property tax liens.

Please let us know how this turns out. I would love to know what this landowner is up to, since I have never come across this before.

[dscurlock]

Still, check the lease first. If by chance, there is a clause in there stating that the park owner has any claim on the trailer and IF the mortgage company agreed to hold second position(subordinate) to the lot owner, then no law is violated. The lease is a valid contract.

Sounds like this owner is blowing smoke and still amazes me that he does not know he has no right to the trailer nor can he do anything even if he has the keys!

Also, check the title of the trailer with the motor vehicle dept.
Make sure that the landowner is not on the title. He shouldn't be, but who knows what this guy has done!

Make sure, also, that Mom has paid the sales tax on the trailer and that the title registration is up to date with motor vehicle.

This landowner is either very stupid or very savvy.

One other thing, even though the lot guy demanded keys and title, i have yet to hear of him producing any type of documents from the mortg company saying he would have rights to the mobile home if she leaves, if he can not provide any such documents then what he is doing would be considered illegal...her lease with the lot owner would have been between her and the lot owner, not the bank...so it really would not matter what he has in his lease (unless he did have a deal with the bank) and i doubt that, I know banks, they do not make deals that easily...banks can be very hard to deal with...

lot rent is what? $200-$300/mo and that mobile
cost how much $35,000 - unless he was willing to assume
payments for this mobile, in my opinion he doesnt have any rights to anything but the crap in his hand, and the lot he stands on....he can only do what the law says he can do, but he will not have a chance, the bank will come and get that mobile home.

how many months is lot rent behind anyway...

[dscurlock]

Title to property and the mortgage note are separate entities. You can buy a house, qualify for the mortgage yourself and then put whomever you want on the title. Title to the trailer is like the title to a car, not a house.

I am just trying to figure out scenarios as to why this guy thinks he has any rights to this trailer. Wondering if he made mom do something with the title, etc., that secures his interest in this trailer.

As for lien holders...each one has a "position" either designated by a contract or by timing of lien recording. Some liens can kick out other liens simply by their nature, such as property tax liens.

Please let us know how this turns out. I would love to know what this landowner is up to, since I have never come across this before.

I want to disagree with your first statement, if a propery is paid off then yes you can change the title that easily, but for something like a house, to be put on the title means you are accepting responsibily for the home, means you would have to go through a loan process and all that to get on the title...this is for their protection...

my wife has a car in her name...and ive already tried to be put on the title to her car which is not paid off, you have to remember, this title belongs to the bank, not my wife, for things not paid off, I doubt you can just be placed on titles at will, in order for me to get on her title, i have to go through the process, credit check, and all that, the bank is protecting there property...this is why im not on the title.

yes, you can put someone on a title, but for something like a home that isnt paid off, they will have to go through a process. I had a single wide in my name before, I tried to add my wife to the title, the bank would not have that, unless she went through a long process....you just cant call the bank up and say i want so and so on the title, then boom its done, it does not work that way, the bank would not be able to protect their interests that way...

[dscurlock]

Still, check the lease first. If by chance, there is a clause in there stating that the park owner has any claim on the trailer and IF the mortgage company agreed to hold second position(subordinate) to the lot owner, then no law is violated. The lease is a valid contract.

Sounds like this owner is blowing smoke and still amazes me that he does not know he has no right to the trailer nor can he do anything even if he has the keys!

Also, check the title of the trailer with the motor vehicle dept.
Make sure that the landowner is not on the title. He shouldn't be, but who knows what this guy has done!

Make sure, also, that Mom has paid the sales tax on the trailer and that the title registration is up to date with motor vehicle.

This landowner is either very stupid or very savvy.

This has been entertaining

but im telling you, if this guy had any legal documentation
giving him rights to the trailer, he would have produced
them by now, and he would have placed
a vacate order on her to get her out and some
other renters in...

at best he could put a lien on the trailer by taking her to court, and have the court decide on how to deal with the mobile home...but if the home is surrendered, it will be taken off the lot well before this case sees a court room.

he will more then likely do what he can do get
his lot rent, he will probably be unsuccessful.

[B12]

Banks do not go on the title to your house and do not decide who goes on the title. Only you do.

[demismom]

Well, I remember 12 years ago when she bought the trailer with $20,000 down, and yep, STILL owes $37,000 (refied several times, evidently), she bought the trailer while it was in the trailer park. Maybe he already owned it and never transferred the title? But, I doubt that the mortgage company would have let him do that. At any rate, I'm going over there this morning and will look at both the mortgage papers and the title to see what is up.

I told her to call the Mortgage company on Monday anyway just to get it straight from the horse's mouth just what to do with the title and keys.

[dscurlock]

Banks do not go on the title to your house and do not decide who goes on the title. Only you do.

You are correct, banks do not go on the title, they
just hold the title... you apparently never tried.
banks or whoever holds that title do not randomly let
people on titles (unless the title is clear, paid off, etc)
sure its possible for you get to on the title if you can
jump through the hoop process that the bank will
want you to do...Ive already tried, my wife has tried,
there is no way i can get off our mortg home loan, for
the simeple fact that I signed papers to take responsibilty
for this house, so i just can not jump off the title at will.
the only way for me to get off is let the house forclose
divorce, or sell the home, that is the only legal way we can
get off the title to the home.

this discussion is over, and is not up for debate.

[B12]

I am sorry dscurlock, but you are wrong. Title varies state to state, but you can add someone to the title of your house even though it still has a mortgage on it.
You cannot add or take someone off the existing mortgage.

[demismom]

Why is this thread too long?

I haven't had a chance to look yet, but I AM curious as to what is on the title AND mortgage.

[B12]

How is that? lol

Hey Demi, let me know how this turns out. Best of luck with it.

[demismom]

Update

We talked with the mortgage company and they said my Mom should just give the title to the park owner. I guess he was right after all. As soon as she's out of the trailer they will take possession of it and start all the legal mumbo jumbo. So, I guess that's it. I'm sure they'll try to garnish my step dad's wages, but I work for the same company he does and do the payroll (nice, huh?). He already has 3 garnishments, so they'll get nothing!