REPOSSESSION OF MANUFACTURED HOME
When a borrower has defaulted on his/ her obligations, gaining possession of a manufactured home which is considered to be personal property (that is, freestanding and not associated with the land on which it is situated) may be accomplished in one of two ways.
If the debtor has vacated the manufactured home, then the creditor may simply repossess the home in a peaceable manner. However, if the debtor has defaulted and remains in the manufactured home, then the creditor must proceed with a judicial foreclosure:
- After default by borrower, Creditor drafts/mails Notice of Intent to Accelerate giving borrower thirty (30) days to cure debt and any other additional fees;
- If Debtor fails to cure debt within the thirty (30) day period, Creditor drafts/mails Notice of Acceleration to borrower;
- After acceleration, Creditor shall file a lawsuit in District Court seeking a judgment for the past due payments and possession of the home via a writ;
- If Debtor fails to answer said suit, then Creditor may obtain a default judgment and proceed with the writ of possession if borrower is still in possession of manufactured home