In Banks Debt

I've recently bought a used Mobile home from a broker who claims he works for a bank selling repos. I paid cash for this home and I put several thousands into it and even paid 1800.00 to have it move on my private property which is owned by me, I even got full coverage home owners insurance on it. The problem I have is the bank that I thought I bought it from found this home on my property and left a number for me to call. The banker told me that this mobile home was never paid for. Which means that the guy I bought it from took my money and ran. What can I do ? Can the bank really take it from me even if I have a written bill of sale for it? The man that I bought it from has done some business with that bank before and is selling under someone elses license. I just don't know where to go from here, what is my next steps?

I would contact the police.

This situation happened to my family when we entered into an agreement with an owner of a beautiful home to rent with an option to buy from him. We put down several thousand and signed the lease with the intent of having our payments go toward the purchase price.

A few weeks later a woman came to the door and said the house had been sold at the courthouse steps. You see the man we thought was the owner was really a renter living in the home. When he was told by his landlord, the REAL owner that HE was being foreclosed upon and the tenant had to move, the tenant ran an ad to 'sell' the house. We showed up, assuming since he had a key to the place and he lived in it that he was the owner, and handed over our money. The man took our money and skipped town. And yes, we had to move out in thirty days. Trying to relocate a family with seven children under the age of eleven was no walk in the park. Our story was so compelling, the local media did a "consumer watch/buyer beware" segement on us, came to our home and video taped us and our story----but we were out the money we paid and it was never recovered.

I would go to the police and file a report for fraud for starters. The fact the guy stole your money doesn't change the fact that the object being sold wasn't his to begin with. So yes the bank has every right to take it back. I would consult with an attorney and see if he can assist you.

I am sorry this is happening to you. Perhaps there is a reasonable explanation for all of this--such as a clerical error. But worst case scenario, you have been scammed.

Talk to the bank. Then, based on what they say, go to the police and file a report. The bank really doesn't want a used trailer back. Perhaps between the two of you and the police, he can be caught and made to pay restitution. It's a long shot. Good luck.

Thank you so much for the reply. What you suggested is pretty much what I already did. I seriously doubt if I will ever see my money but I am planning to buy it again from the bank at a reduced price.
sincerely,
Lesson learned the hard way.