Legal Question in Real Estate Law in California

Two possible scenarios. If the lender forecloses the home (in the case of a mobile home in a park, it's technically a repossession), the anti-deficiency laws of California should protect you from being sued by the lender. The park, however, can sue you for unpaid rent as soon as you stop paying. The lender, however, will often step up and pay the rent, or make a deal with the park to pay the rent when the unit is resold to protect their collateral. The other possible scenario is to call your lender and see if they are willing to accept the home back in lieu of having to foreclose. It will save them a couple of thousand dollars, and get the home back in their possession sooner. Let the park know that you transferred the home back to the lender. Be sure, however, that the home is legally transferred back to the lender through California Department of Housing and Community Development, or you will be on the hook for rent, and for registration fees and/or local property taxes.

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