Could one of you lawyers or real estate experts answer a question for me?

[nemesis]

I'm aware of this circumstance and would like to pick the brains of some of you.

There's this elderly lady, a widow, who lives off social security. I think she also might be getting something from her deceased husband's military benefits as well. But she definitely pretty much lives hand-to-mouth.

Years ago she bought a trailer. She didn't know what she was doing. It was like, "I need a trailer. Oh, here's a nice one." It was used and she paid more than it was worth. Plus, she financied it on the lot at less than favorable rates.

Fast forward to the present. She's way underwater in the whole thing and will never get it paid for. She owes so much on it she can't sell it.

I used to have a realtor's license so one of her kids asked me what would happen if she just walked away from it. I don't know about trailers.

If she walks away and tells the finance company she can't afford to live there anymore, will they come and get the trailer? I think she said something about walking away from the trailer, but that she couldn't walk away from the lot rental in the trailer park.

So if she walks away from the trailer and the finance company decides not to repo the trailer, can she ignore the lot rental as well?

I think the issue is she's becoming too frail to live alone.

thanx

 

[peanut]

I know someone living in a foreclosed house for almost 2 years now. (EDIT; they quit paying the mortgage.)
Keep paying the bills and be ready to go when they come to kick you out.
It has worked for them so far.
Terrible situation to say the least.

 

[nemesis]

I know someone living in a foreclosed house for almost 2 years now. (EDIT; they quit paying the mortgage.)
Keep paying the bills and be ready to go when they come to kick you out.
It has worked for them so far.
Terrible situation to say the least.

The thing is she's getting to the point where she can't live alone, and there's no one to live with her. So the plan is to move in with one of her kids. I think.

 

[ahamay6]

They will come pick it up... Eventually, but she can stay in the home until the sheriff gives notice of eviction and then she has 14 days to vacate. I am in no means an expert, but know of a couple of people in similar situations and I believe what I said is correct.

 

[nemesis]

They will come pick it up... Eventually, but she can stay in the home until the sheriff gives notice of eviction and then she has 14 days to vacate. I am in no means an expert, but know of a couple of people in similar situations and I believe what I said is correct.

Thanks. I'm wondering, however, if the finance company doesn't pick the trailer up in a timely manner, hence the lot rent fees continue to accrue, how such debts are normally secured. Like I said, she lives off of social security. Can they garnishee SS?

 

[OKCIS]

Thanks. I'm wondering, however, if the finance company doesn't pick the trailer up in a timely manner, hence the lot rent fees continue to accrue, how such debts are normally secured. Like I said, she lives off of social security. Can they garnishee SS?

No Social Security Benefits can only be garnished due to federal debt. Anyone who tries to garnish SS is in violation of Section 207 of the Social Security Act (42 U.S.C. 407).

http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/426/~/garnishing-social-security-benefits-due-to-a-debt

 

[dorothymartin]

An old lady living in a foreclosed house for almost two years now.It's just disgusting and annoying everyone. Keep paying the bills and be ready to go when they come to kick you out.It requires some genius lawyers who can handle for you. real estate lawyers boca raton