Financing for used Mobiles? - Posted by John
Posted by John on November 02, 1998 at 12:18:34:
I am another “newbie” who bought & devoured Lonnie’s books and went out and bought two “Wobbly Boxes”. Ran into the following problem and need suggestions, please.
I recently moved from Chicago to the Dallas area, and I have a cousin in Alabama who went in on the 2 MHs with me. He has them on HIS property ans has rehabbed both. Now we’re looking to cash out, NOT finance ourselves, because he has to move to North Carolina, so we don’t want to take a DP and hold or sell the notes on these particular MHs. We have a 1974 Fleetwood (2BR/12X65) and a ‘slightly younger’ Clayton Rocket(3BR/16X76). We just want to cash out. He’s spread the word all over town and has received tons of phone calls and interest, but the people who come (while willing to pay the price) need financing and they can’t get it via banks, credit unions, etc. None of the “conventional” lenders will finance homes this old.
So, will SOMEONE PLEASE direct us to the folks that will finance these homes and cash us out? We would really appreciate the help (obviously).