Vanderbilt Repo in My Park

The home is a 1998 home in need of repair. The owner/my tenant told me that he owed approximately $9,000 on it and was moving to an apartment and unable to pay anymore. I immediately contacted Vanderbilt Mortgage and offered to buy it for $2,000 as it would need at least $15,000 in repairs to make it habitable. The lender ignored me for about 6 weeks. Finally, I sent them an email that I would have to charge them $100 per day to store the home as their failure to respond in a timely manner was forcing me to store a hazard on the property. Rather than respond to my offer, Vanderbilt then foreclosed. I again offered to buy it and they say that they are going to repair and re-sell with it in place. That will be fine if they pay the back rent and will respect our Park rules . My question is, where do I stand with back rent? What rights do I have as a park owner who requires Park approval? I’m really disappointed in the way the Vanderbilt reps are handling this.

Have you reached out to an attorney yet? That’s probably the best place to start as it relates to back rent, etc.

If you didn’t follow your state’s proper rules for notifying Vanderbilt then they probably don’t owe you anything.

You need to know what your state’s rules are for this situation.

You are seeing first hand who the mortgage company is worried about. And they’ll put a little note on their repo listing, “there may be back rent due to the Landlord”. And of course other Park owners and used MH dealers will come look at it in hopes of poaching it! [FYI: Poach 1 home and I may come poach 2 from you]

Seems you should also be looking at the abandonment laws for your state to see how those can be used to address your situation.