Didn’t Realize She Was Taking Responsibility For The Debt
When Sharon Little moved to Polk City in 2005 from International Falls, Minn., she went from the freezer into the fire — in more ways than one.
Little, 60, was burned to the tune of about $40,000 in a convoluted 2010 real estate deal on a mobile home. She thought she was buying a mobile home and lot for $22,000. Instead she bought the home; property; and, unbeknownst to her, a $20,000 mortgage attached to it.
Real estate lawyers say buying a debt is a common problem with people who buy mobile homes. And buying property involved in bankruptcy or a short sale frequently is more complicated.
Anyone who sifted through Little’s pile of paperwork on the property she is now losing “would need a law degree to figure out what’s happened. People couldn’t do it on their own,” said Peter Munson, a Lakeland lawyer who reviewed the file for The Ledger.