Repos

[Joyce]

Hi! I really hate to bother you on this but I need some answers on this, that I was totally unaware of till now.
I purchased a repo double wide mobile home from Oakwood Acceptance Corporation and all was fine at the time. They told me the asking price and I paid cash for the house and so it was delivered! I did not take a loan out to buy this house. Like I said I paid cash.

I just want you to know that the house itself I love and have no problem with it at all. Its a great house!

The problem now is Taxes....I received my new taxes and now they are trying to tell me that I owe $3,000.00 in back taxes on this house and that the taxes owed went with the house when I bought it.

So now, why wasn't I told about these, such taxes when I was getting ready to buy this house. They never disclosed any taxes what so ever that were going along with this house at the time of purchase and that I would have to pay when my tax bill came in.
You can just imagine the shock, almost heart failure, when I saw this Bill. I am still finding it hard to except!

Shouldn't they have disclosed all cost and taxes to me?
I really feel like these people have ripped me off.
Is there anything that I can do???
Thanks so much

Joyce

[Bill Fry]

I don't live in Texas so don't know the law there but it would seem this information would have to have been disclosed at the time of sale.I would go thru all and any documents you signed when you bought it and read everything again..It might also bea good idea to consult an attorney to see just what you are liable for.

[Clarence Yeary]

Hi Joyce,

I'm glad you love your home!! But I'm sorry about the tax suitation. Once you transfer the home in your name the taxes are your responsibility. This is a negative downside to purchasing a repo. It's best to do a title search and tax lein search before you hand a finance company cash! They'll probably tell you it's no longer their responsibility (which is true), BUT they should have disclosed this to you before you purchased the home.

I personality have experience this with used cars. You tag the vehicle only to find out the previous owner ownes back taxes on the vehicle! Each time there was nothing I could do. I hope I'm wrong about this but I don't see any finance company the taxes for you. If I were you, I would at least consult an attorney!

Best of luck,
Clarence

[rmurray]

Unfortunately for you...Oakwood Acceptance is no more...They went bankrupt and even if you have a claim..there is no way to collect it...

Most reposeessed homes sold on cash sales directly from the lender make the buyer responsible for back taxes...Some states have laws that do not allow this to happen...but...again they are gone...and the government does not care...they will get theirs no matter what...and now you are holding the bag..

Sorry for the bad news...but you are going to be stuck..

If you bought this home from a licenced Oakwood sales location you might have recourse...Your state has substancial regulation powers and does have a recovery fund for losses caused by licensed dealers...There is a warning on the states web site about buying used homes from unlicensed dealers..and back taxes...Go here and see if they can be of any help..

http://www.tdhca.state.tx.us/mh/