Mobile home residents in Boulder losing property to lien purchases sparks reevaluation of system
Boulder, CO: Changes to property legislation are under consideration after realtors purchasing liens on mobile homes have causing multiple residents to lose their homes this year due to back fees as low as $175.
The current system stipulates owners failing to pay taxes on their property have a lien placed on the given property by Boulder County. Owners have at least 60 days from initial notification, up to a year depending on the property value, to pay off the fees in order maintain their property.
Until recently, investors have not readily sought to purchase such properties, so residents have paid off their small fees over time without realizing their homes were at much risk. Now, four such mobile home owners are shocked to find not only have their properties been purchased, but they have only a few weeks to vacate the property.
City officials have voiced concern that if a new trend in investment in mobile home liens exists, it could ignite gentrification problems.
One such remedy under discussion is to extend the timeframe for back-payment of mobile home liens to a timeframe more in line with that of general homeowners.
Another option under discussion is offering educational courses via the city and/or county to inform resident about financial stakes and remedies concerning being a property owner.
In any such instance, the four mobile homeowners whose properties were purchased have no recourse but to leave behind their homes.
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