Mobile Home question
Posted: Tue May 05, 2009 5:43 pm
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In California the lender can repossess the home but does not have the option
of suing the borrower for additional money owed on the loan.21 No deficiency
judgment is allowed after the sale of a manufactured home for failure to pay
off the balance of a manufactured home loan unless the deficiency is the
result of damage to the house.
http://www.consumersunion.org/mh/docs/f ... eport.html
Cal. Health and Safety Code, 18038.7.
I hope this helps
David Jacob
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On 5/5/09 1:30 PM, "Eva L. Taylor" wrote:
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> Does the anti-deficiency rule and/or the one action rule apply to mobile homes
> where the client only has title to the home and not the land on which it is
> located?
>
> (If anyone has the code section, or can direct me to the right area that would
> be great, too.)
>
> Thanks,
>
> Eva L. Taylor, Esq.
> Borowitz, Lozano & Clark, LLP
> 100 N. Barranca Avenue, Suite 250
> West Covina, CA 91791
> Office: (626) 332-8600
> Fax: (626) 332-8644
> www.blclaw.com
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Re: [cdcbaa] Mobile Home question
In California the lender can repossess the home but does not have the option of suing the borrower for additional money owed on the loan.21 No deficiency judgment is allowed after the sale of a manufactured home for failure to pay off the balance of a manufactured home loan unless the deficiency is the result of damage to the house.
The post was migrated from Yahoo.