note/lien default

[Linda]

I sold a mobile home and am carrying the note on it. The principle balance is about $18,000 and the home is worth about $45,000.

I found out the people who bought it from me are selling it which is prohibited in the contract. I called, emailed and am sending a 30 day notice for the balance tomorrow by certified mail.

What is my next step? If they do not pay do I go after them or repossess the home from the new owner who is a victim in this case?

Any suggestions would be greatly appreciated.

By the way, this is in the state of California.

Thank you,
Linda

[rmurray]

I do not see how you could stop them from selling the home if they pay you off...I do see you can try to forbid the sale on an assumption basis without your direct approval...

Have they already sold the home..you imply they are only going to sell the home..??..

State laws are all different concerning contract law...There may well be specific language in the state law prohibiting your contract language....The right of an owner to sell with a wrap around mortgage is protected in some states...

If they are selling and intend to pay you off...take your money and be happy...Otherwise...get an attorney in your state who is familier with CA contract law....There would be specific legal remedies in your state that require specific actions on your part..An internet bulletin board is not the place for specific legal advice..