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Residents of Gulf Stream Manor, a mobile home park on Gulf Highway, are asking what a foreclosure means for them as the property heads to a sheriff’s sale on Jan. 20.
The Calcasieu Parish Sheriff’s Office seized the park in 2025 at the lender’s request. Court records show the lender says it is owed more than $3 million.
A resident who did not want to speak on camera told 7News he had no idea the park was in foreclosure or that it goes up for sale in January. His question: Could he be evicted?
Real estate attorney John-Michael Lomzenski of Scofield, Gerard, Pohorelsky, Gallaugher & Landry in Lake Charles says foreclosures are hard on...
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While mobile home park loan distress is still under 1% -- while apartment is over 8% -- mobile home parks are economic engines and sometimes the engine gives out. In this case, more than likely, the contributing factor was simply not enough revenue to pay the bills and the mortgage, too. The solution for the next owner (you guessed it) is to raise rents significantly. Now that the midterms are behind us, maybe we can all transition from B.S. to reality, and higher rents is not the work of “evil” landlords but simply the byproduct of economic reality. As I’ve written for years now, low lot rent = redevelopment. That’s definitely the case here and the future of the property is either going to be higher lot rents or demolition.