My wife and I are divorcing and want to move to a different state. We are ok with foreclosure / repossession of the home. We do not have any land tied with the home in the mortgage. We are not concerned with credit but how will this affect us financially. Will they just take it away and ruin our credit or will we be responsible for the balance?
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They will foreclose, then sell it at auction for much less than you owe on it and you will owe the difference. They could take out a judgment against you which could greatly affect your financial future. Call them and see if you can work something out.
Have you even tried to sell it? You could possibly sell it for what you owe on it and salvage your credit.
Contact a Realtor.
Getting out of a manufactured home mortgage.?
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