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Home Selling in Mayer : Real Estate Advice

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  • Local Info2
  • Home Buying3
  • Home Selling3
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Paul Cadinha,  in Red Bluff, CA
Fri Oct 31, 2008
Paul Cadinha answered:
Under a Deed of Trust, only the "pledged " or collateralized property is at risk. This Deed of Trust IS a LIEN on the property. If you have a Mortgage, commonly used outside of California, unless something specific was added to the language of the document, only the property is at risk. A Mortgage of Chattels, or Chattels Mortgage, however , is not the same. Under this promisory note, you pledged pretty much everything, all your possessions (chattels, an Old english term) this is not commonly used except by hard money lenders and such. ... more
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Brittany Sim…,  in Columbus, OH
Wed Oct 29, 2008
Brittany Simonelli answered:
Tod:

You should contact your lender and HUD immediately. Your lender is going to require that the property be listed with a local agent. You will need to submit "proof" of your case. (financial statements, w-2's, etc.) Your lender is also going to want to do an appraisal on the property to determine its current market value. If your property's value is not below market value, you may check into a loan modification.

The sooner you contact your lenders, the better. Hire an agent in your area that specializes or works frequently with these types of situations. Short sales are not for amatuers.
... more
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Brad Bergami…, Real Estate Pro in Prescott, AZ
Wed Oct 22, 2008
Brad Bergamini answered:
Tod,
Is it a equity loan from another property? So, if you sell the manufactured home you will only cover a portion of the equity line? If this is the case you are still short on the leveraged property, thus a short sale will work on the leveraged or leaned property? Let me know if I got my facts striate on the question.
email me direct if you would like.
Brad
... more
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Home Selling in Mayer Zip Codes

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