Legal Question in Real Estate Law in Arkansas

I have a double wide mobile home that sits on 2 acres of property that I own in Arkansas. I refinanced the mobile home 4 years ago and allowed the bank to include the real property in the mortgage to make it somewhat more appealing to finance. The lien was duly filed on the land and the mortgage also lists the mobile home as primary security. I offered them the title, but was told that it was not needed. Here 4 years later, I am attempting to renegotiate the payments and they discovered that they do not have the title and no lien was ever annotated on said title. I presently have a clear title in my name and in my possession to the mobile home. Also the serial number that they have listed on the mortgage is incorrect. I have no idea where it came from, but I did not supply it to them as they never asked. If this goes to foreclosure or repossession, do they have a viable claim against the mobile home? Does this complicate matters for them in the event of my default?

Asked on 3/28/11, 12:59 pm

Chad Oldham Oldham Law Firm, PLLC

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At the very least, it complicates matters for the lender. The lender probably does not have a valid lien on the mh.

Answered on 4/07/11, 6:54 pm

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