Lonnie Deals - Posted by Kenneth
Posted by Kenneth on February 19, 2000 at 17:55:24:
For those who are concerned about owner financing mobile homes for their buyers. The concern that has been stated has been what to do if the buyer stops making payments. In August 1999 I sold a mobile home with owner financing and within a couple of months the lady’s husband left her holding the bag. She tried in vain to stay current with the payments but finally gave up this month. So I reposeed the home and started marketing it again. I figured I would get another $800 down payment from the new buyer and finance it for him. Not so! The buyer gave me $3400 down and I am financing another $6000. You never know what’s around the corner.