Foreclosure On Land In GA With MOD Home
Bank is foreclosing on property with a modular home. Recorded deed only is for the land purchase amount. If i were to purchase this at the sale, I assume I would also get the home but would I owe anything on it? The land I assume , would be first. I would assume the HO's have a loan with someone for the MOD home. Would they have to bid at the sale to protect their interest or is there something else going on here with Mod and Mobile homes?
Thanks!
Should I post under a different forum?
Sounds like the bank is foreclosing on land only--there is likely a loan and lien on the home as well.
Check for UCC filings with the Secretary of State to see if the home has a separate loan. SHould be online