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Thelawman2, Lawyer
Category: Real Estate Law
Satisfied Customers: 1384
Experience:  Attorney-at-Law
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I am owner financing a mobile home and property and have

Customer Question

I am owner financing a mobile home and property and have been doing so far the last 5 years with a contract between mw and the owner it has come to my attention that she has a lien on the property which she is behind on and can possibly lose the property to wells fargo bank what can I do on this matter i only owe her 11 more months help thanks....
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  Thelawman2 replied 10 months ago.

So, just so I understand, you are buying the mobile home, but the previous owner has a lien filed against her from wells fargo bank?

Expert:  Thelawman2 replied 10 months ago.

If that is the case, did you do a property lien search on the mobile home before purchasing? Did you actually obtain title on the mobile home when it was transferred?

Expert:  Thelawman2 replied 10 months ago.

If you failed to check whether the mobile home was subject to a lien, then unfortunately, the bank as priority over you in getting the lien satisfied. They can force the sale of the mobile home, or require you to satisfy it. What you should do is speak to the previous owner about not disclosing that there was a lien against the mobile home. Perhaps you can agree that instead of you paying her the remaining 11 months, you would pay the bank the remaining amount (hopefully paying off the remainder of the lien). Otherwise, you would have to pay the lien to make sure that the mobile home isn't taken by the bank, and then sue the previous owner for not disclosing to you that there was a lien on the property.