QUESTION
How long does it take to foreclose on a mobile home?
Asked on Dec 28th, 2011 on Foreclosures - New Jersey
2 ANSWERS
Business Bankruptcy Attorney serving Raleigh, NC
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J.M. Cook, P.A.
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A mobile home is not real property unless it is affixed to land and there was a deed of trust executed. Therefore, it can usually be repossessed, like any other motor vehicle, and only the contract controls.
Answered on Jan 06th, 2012 at 10:35 AM
Criminal Defense Attorney serving Summit, NJ
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Stephen P. Dempsey Counselor at Law
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It depends on the type of loan. Is the mobile home by way of automobile loan or residental mortgage loan. In NJ, foreclosure of a residential loan can take many months or years. A automotive loan may only take a couple of months.
Answered on Jan 04th, 2012 at 5:40 PM