There is no doubt an eviction from your mobile home will impact you. Besides the obvious strain and emotional impact the situation can have on your family and personal relationships, being evicted from a mobile home park can also devastate your finances. From the clothes you wear to the car you drive, or even where you reside or work, it will have a residual effect on your life for years to come.
Mobile Home Dreamin is here to listen to you and can address any questions you may have about your specific circumstances and what you can do to avoid this type of situation. Just call (951) 783-2611.
By having a better understanding of what lies ahead, you will be better equipped for taking immediate action against the negative consequences of eviction from the start.
Your future self will thank you for taking the time to learn more about your options during the process. We’ll cover 4 ways that an eviction from a mobile home park will impact you in Hemet.
4 Ways an Eviction Will Impact You in Hemet
Denied
Being evicted from a mobile home park in Hemet appears on your credit reports and will cause you to be considered a bad risk. Once this appears in your credit history, it will impact your ability to purchase or rent another mobile home in the future. Bad credit often leads to credit applications being denied for credit cards, loans or mortgages. Any financial institution that is willing to approve consumers with bad credit usually charges terrible interest rates and annual fees that those who have good credit avoid. Additionally, it could possibly be a reason you are passed over for employment opportunities.
Financial Loss
Among the top reasons for owning a mobile home, paying low space rent and still being able to resell the mobile home later in Hemet is extremely important. Once you are evicted from the mobile home park, you no longer have the right to sell your mobile home. The mobile home park will take ownership of your mobile home through a process called “legal” and you will lose any ability to sell the manufactured home to someone else.
Debt
By taking quick steps to resolve a pending eviction, you can make the decisions on how your mobile home is sold and for how much. Contact us before it is too late! I recently tried 11 times to help someone who was being evicted sell their mobile home with us. They refused to even speak with us and by the time they changed their mind the park took their mobile home away. By not selling their mobile home prior to eviction, they lost the right to sell it and ultimately ended up losing over $31,000! Do not let this happen to your Hemet manufactured home. At least ensure that you walk away with something rather than nothing and let us make you an all cash offer on your mobile home. Sometimes, if your debts are small enough with the parks, we can even pay off loans or any space rent that you have not paid. The key is being honest with yourself and reaching out to a professional early on for help.
Future Housing
Going through an eviction will impacts your future housing options in many ways. In general, landlords run credit checks as the first step when interviewing tenants. Naturally, your financial history will make you a higher risk and may cause you to be passed over for more desirable properties. Additionally, your choices in financing will be highly restricted should you wish to purchase another mobile home or a single family home. Fannie Mae is among the largest in the nation and offers a program with several financial benefits. Should you have gone through an eviction and seek a mortgage lender, you should be aware that Fannie Mae will require a waiting period of 7 years before you will be eligible under their guidelines. That means just because of one eviction you may have to wait almost a decade to purchase another manufactured home!
Facing the possibilities of a Hemet eviction alone can be very stressful and inaction on your part risks your financial future. Don’t wait until the eviction begins, let Mobile Home Dreamin help lessen your burdens today. Send us a message or give us a call today at (951) 783-2611.