Would a RTC on a mobile home with no RE be worded and handled the same way as any other CLA loan? (give them 20 days to cure and only need to send 2)Or would it be handled differently because it is a residence?

Thanks for any help

If it was assessed and recorded as real estate, then I'd treat it as such and send out the appropriate RTC. If it wasn't assessed and recorded as RE, then I'd treat it as another piece of property, i.e., an auto...in that case, send out the 2 20-day notices and take the property.

If they don't cure on the first notice there is no need to provide a 2nd notice--regardless of how you treat them as RE or as other collateral. If they keep curing, I'd send a notice each time. Would you rather have the payments or repo the collateral?

Yes, I understand if they don't cure you don't have to give them another notice. Thanks for your reply.