The lender does not have a legal obligation to accept the unit back from you. Given the number of repossessions manufactured and mobile home lenders are experiencing, it is not surprising that they have not repossessed nor have they responded to your requests that they do so. Your options are somewhat limited. You can stop paying the park rent, and the park will then lien the home with what is referred to as a warehouseman's lien. Through this lien, they can acquire title to the home free-and-clear of the loan on the home. The bad part, however, is that your lender can now sue you for the balance owed on the loan. You may attempt to short-sale the home - manufactured home lenders are willing to do so, but you'll likely need a real estate agent to contact the lender to negotiate the short-sale. Finally, you can attempt to move the home out of the park, but the question is cost and where do you move it to.

Funny story - here in Orange County, CA, a woman years ago was mad at her lender (Bank of America) on her mobile home. Same kind of situation - she stopped paying the loan, bank wouldn't foreclose, and she didn't want to keep paying space rent. She hired home movers to break the home down and move it to the parking lot of the local Bank of America branch office. That day, she walked into the branch and handed the keys to the first teller she could find and told them "it's yours." The picture in the newspaper was of several bank executives in suits standing in the parking lot staring at a large double-wide home they now had recovered! I DO NOT recommend that course of action, but you can see how rediculous this ends up being when the bank won't work with you. Just know that you are not alone - many homeowners face the same or worse situations every day.

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