Question: I have a home equity line of credit and am delinquent 1200. The credit union has a copy of the mobile home title, but is not listed as security interest holder. I have made arrangements to catch up the past due balance. We have not signed any mortgage papers. Can they foreclose based on a copy of the title. They want us to add them as security interest holders and said that also included our tax lots.
Answer: – Anyone can foreclose if they have a lien on your property. If you borrowed money from a HELOC that is attached to another property to buy this mobile home, then the credit union will foreclose on the property attached to the lien that was pledged as collateral for the loan.
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