I took a note on a mobile home loan and the owners are not paying. What action do I need to take to repossess the mobile home?
If they are past due and you know them you might call, if not, or itÃ†s gone on for a while send a certified letter demanding payment and stating the facts confirming that they are past due. If they don't respond and if you properly secured the note with a lien on the mobile home (state law is critical to determining if this was done properly) you can go to court and try to get the Sheriff to levy on the mobile home. You really need a lawyer for this. If you have not properly secured the note with a lien on the property, or the value of the mobile home is insufficient, and if the borrower is personally liable on the note, you may be able to sue the borrower personally. Again, get a collection lawyer to help you.
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