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Nadiyah M
I paid for a mobile home but did not get clear titles Mortgage company wants repo Previous owner not paid for?
I purhased a mobile home and paid cash for it. The mortgage company came to my house said they will repo the house because the previous owner did not have any legal rights to sell. What can I do? Am I out of $ 60k?
...asked February 8th, 2012 @ 6:25 pm
in Loan - Home
41175sdn90036
0 
0There’s a few things you should do.
It sounds like the person who sold you the mobile home lied to you about his ownership. (Obviously, you didn’t realize that a mortgage company owned it.) This is fraud. It is illegal. Contact the police. Explain the situation to them. This is a very serious matter. The seller is a con artist and the police should go after him or her.
Next, you can sue the person who sold the mobile home to you. This is a waste of time if you believe this person doesn’t have any money.
The mortgage company owns the mobile home and has a right to take it. There is nothing that you can do about this.
Next time, hire a lawyer to handle the transaction.
Good luck.
...answered February 8, 2012 @ 6:30 pm
41176s and d e
0 0do you have a bill of sale? that should prove that you bought it from the previous owner. if you don’t, you’re probably screwed
...answered February 8, 2012 @ 6:40 pm
41177DannoREA
0 0This is why title insurance is important. Unless your contract states he was supposed to offer you title free and clear of encumbrances, you are screwed, blued and tatooed.
Get an attorney.
...answered February 8, 2012 @ 6:51 pm
41178TheMom
0 0It sounds like you are out 60k.
You did not get the deed from the title company? I know that you did not, because you could not get the deed until the mortgage was paid.
You are learning why having a licensed agent is good idea.
...answered February 8, 2012 @ 7:10 pm
41179Mary B
0 0Yup.
Did you use an attorney?
Did you have a title search done?
Do you have title insurance?
Did you record a Deed? Was it a General Warranty Deed?
Did you have a contract ensuring transfer of CLEAR title?
He claimed he owned the trailer free and clear and didn’t. You can sue him in a civil suit, but you can’t do that in small claims, but the mortgage company is still going to take the property.
I really hope you didn’t give him $ 60K in actual cash and there is a paper trail of the money.
PS: A title company DOES NOT issue Deeds to properties.
...answered February 8, 2012 @ 8:06 pm