Has she considered putting it on the market? Has she spoken with her bank to see if they could help her out in some way? It is better to use all avenues of communication before walking away from the property. Not only will she have the bankruptcy on her record, but if she walks then she will have the forecolsure. The bank may not refinance to lower her % rate, but may be able to extend the amortization, so the payments are affordable for her. Try it out. If her current bank does not budge, then try another bank.
Hard to imagine finding a renter in MI willing to pay $900 a month for a MH. Hard to rent ANY house for that in the Lansing area, let alone something in a trailer park next to a landfill...
Chris
(On the Mobile Home forum? Way too much floor time!)
Has she considered putting it on the market? Has she spoken with her bank to see if they could help her out in some way? It is better to use all avenues of communication before walking away from the property. Not only will she have the bankruptcy on her record, but if she walks then she will have the forecolsure. The bank may not refinance to lower her % rate, but may be able to extend the amortization, so the payments are affordable for her. Try it out. If her current bank does not budge, then try another bank.
Has she talked to her bank about a short sale? This should be something she considers before walking away.
Hard to imagine finding a renter in MI willing to pay $900 a month for a MH. Hard to rent ANY house for that in the Lansing area, let alone something in a trailer park next to a landfill...
Chris
(On the Mobile Home forum? Way too much floor time!)