Manufactured homes often times cause unnecessary stress during the foreclosure process, or cause excessive delays in the REO process, but why? The Geheren Firm has developed a program to assist lenders and servicers with mobile home title curative solutions during the foreclosure process in order to prevent issues during the REO process.
In Georgia there are two ways to handle a mobile home at the time of origination: 1) the borrower can file a T-234A (Certificate of Permanent Location), which would retire the certificate of title and permanently affix the mobile home to the property so that it would be included as part of the collateral, or 2) the lender can “hold” the original certificate of title, listing themselves as the lienholder of record. Generally speaking, often times mobile homes are not permanently affixed and national lenders and servicers do not have the original certificate of title to the mobile home when it comes time to foreclose. Between the time that the mortgage was originated and the point of foreclosure, the certificate of title was lost, misplaced, or never actually possessed by the lender. While this may seem like a major problem, it’s not.
Through thorough research and analysis, The Geheren Firm has created a step-by-step process to seamlessly cure all mobile home title defects. Whether the lender or servicer has the original copy of the certificate of title, a photocopy of the certificate of title, or no copy at all, we are here to help and we will complete the process in the most efficient and timely manner.