Posted by Lance P. on May 31, 2000 at 19:55:20:
A friend of mine bought a new double-wide for $72,400 before she knew where she was going to put it! With mobilowners ins., credit life ins., and home buyers protection… her total came to $74,988. Her and her husband put $1,000 down. They have been making monthly payments of $600 for the past 10 months. To make a long story short, the mobile home sales person told the couple that they would help them find some land within the month. Yes, they actually fell for it! As you can already guess, the couple still doesn’t have a viable site and asked me how to get rid of the house. They have aprox. 7K in equity and are tempted to just let a buyer assume the note. I hate to see them loose their equity, is there another alternative? I have already mentioned the lease option alternative… but they are definately not interested becoming real estate investors! Is there any way they could sell the home, and get their equity back? Any and all suggestions will help. Thank you in advance, Lance