Posted by Rob FL on October 12, 1998 at 21:02:06:
Definitely still used. Usually seen on mobile homes and vacant land though. Most of the ones I see are in the rural areas.
I am pretty sure the tax right-offs are they same as if a sale occurs, but don’t quote me on that.
Also, I am still looking for some properties if you come across something let me know. I will make sure you get compensated in full. The last one just didn’t look profitable after finding out the true mtg balance and re-crunching the numbers. Take Care.