If you own a mobile home that is going into foreclosure then you may be able to save it easier than you think. The main reason for saving a home from the banks repossession is if you own the land too. If the home is in a rented park setting then you may want to think twice about saving the mobile home.

The biggest issue with losing your home or mobile home to foreclosure is pride. No one wants to admit that life is getting the best of them. It seems so un-American to let the banks and lenders steal your dream of home ownership. However, sometimes bad circumstance brings about great rewards.

There are even some investors that are buying up mobile homes by the dozens at very low cost and holding them for better days. You may want to seek out an investor to see if they are willing to buy the mobile home from you. The lender will often take a loss just to sell them and save them from foreclosing on the property. It is more difficult with these types of homes to find the right investor. Stick built homes is a much easier task to find a willing buyer to bail you out. Do not lose hope -- if this is your situation. There are willing buyers out there.

The good news is that banks are more lenient with mobile home foreclosures and will often be willing to settle for very low rates just to keep you in the home. They realize that it will be difficult for them to sell the home again and will work with you.

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