A friend of mine co-signed on a mobile home in Texas and got burnt. She had to let them repossess it and they sold it immediate. The difference in the obligation and the sale was only $2,750.52 but Vanderbilt Mortgage and Finance Inc. sent her a notice for $9,500. $3,000 was for commission to salesman (extremely high for a $23,000 sale) and $2,050 was for moving expense (a little high for moving the trailer 3 miles). It is legal to gouge the prices? It would be reasonable to assume a 6% sales commission and a $1,000 fee for moving the trailer. Does she have any recourse (of course she does not have the money to pay it). She has learned a lesson the hard way on co-signing.

Hello tide:

Does she have recourse?? Of course. She doesn't have to pay it. IF they sue her, she should tell the judge exactly what they did. I doubt a judge will let it stand.

excon

First, your friend needs to do some research to check what normal moving costs and commission would be. If she can prove the charges are out of line, then she won't have to pay.

What she can also try is to offer to settle for the difference between the balance and the sale price. And tell them that's all the money she has.