Posted by Joe on August 05, 2003 at 11:31:09:
Thanks for the reply,the infomation is very helpful.
Credit check for the Lonnie method - Posted by Joe
Posted by Joe on August 04, 2003 at 14:47:03:
Hello–can anybody answer this question?
When the seller is carrying paper for $10k or less and using the Lonnie method, do you usually have the buyer qualify, or just check for bad credit, or bankruptcy etc.
Joe
Re: Credit check for the Lonnie method - Posted by Lyal
Posted by Lyal on August 05, 2003 at 09:37:03:
Joe,
Just my $.02 here. I don’t “qualify” anyone. I let the park manager run the credit check, criminal background and check with previous landlords. If they’re good enough for them, they’re good enough for me.
Note: Credit is “flexible”. You need to find out some details. Was it medical bills, divorce, lost a job or was it just irresponsiblity with credit cards etc. To my PM’s (and me), a landlord reference goes a long way to balance bad credit.
All the best, Lyal