For the intended purpose of this conversation we have been strictly speaking about houses being considered a mobile house or manufactured home (nevertheless moveable) consequently they are categorized as individual property (the mortgage is just regarding the mobile home). Our company is perhaps not discussing a home that is mobile happens to be changed into real property (attached to land permanently) with the loan containing land as security along with the house. As it would be subject to foreclosure (like any other home mortgage) not the process we will discuss here if you have a mobile home or manufactured home that is permanently attached to the land and/or is wrapped up with the land in the loan, it would be treated like any other home mortgage that would need to be defended against foreclosure in bankruptcy.
The creditor can repossess the mobile home in the event that you get behind or default on loan payments for a mobile home. Continue reading