Legal Question in Credit and Debt Law in Michigan

Mobile Home Law

Question - I have accepted a new job in another location and can not afford to move our double wide mobile home. My question is, Can I quit claim it back to the bank? and if so, do I have to pay the difference that they sell it for?

My bank is stsing that if I let it go, than I will be rrsponsible for the difference between what I owe and what they get out of it. I believe, that since it is a titled that it would be the same as any titles vehicle, the bank takes the loss (not that I want to ''stick it'' to the bank) I have ben trying to work with them on a mutual agreement to help finance the move to another location but they don't want to assist.

Please assist in thew above matter.

Thanks


Asked on 3/29/06, 7:05 pm

1 Answer from Attorneys
Rochelle Guznack Law Offices of Rochelle E. Guznack, PLLC

Re: Mobile Home Law

If the bank reposseses or forecloses and takes a loss, you are responsible for the difference.

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Answered on 3/29/06, 10:13 pm


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