Questions about foreclosure-I live free on someone else’s property?

Question by bequiet65: Questions about foreclosure-I live free on someone else’s property?
A few years ago, a friend allowed me to move into a trailer on her property, make small payments to own the trailer (done), and I’ve lived on her property without paying lot rent since. They’ve had hard times, missed some mortgage payments, and now are hearing noises about foreclosure. I’m not sure what steps they are taking or are able to take; they’re in bankruptcy also (trustee keeps taking such large sums out of their only paycheck that they don’t have enough left to pay mortgage & living expenses).
If they are foreclosed on, will my trailer become part of it? Will they lose their computer or other saleable items in their household? How long will they (& I) have after a formal notice to find a new place to live? I would not pay to move the trailer; it’s very old and run down. If I gave them back the trailer, could they get it taken away? If the trailer is on their property when the foreclosure goes through, will I lose the trailer? Do I have any other rights?
I’m not interested in purchasing their land. The trailer is already in my name.

Best answer:

Answer by Shari
I think you are going to lose on this one. There is nothing in your name on paper to protect you. Yes, they can and will lose it.

Know better? Leave your own answer in the comments!

Tagged with: About • else's • foreclosureI • Free • live • Property • Questions • someone

Filed under: Foreclosure

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