Posted by Anne_ND on August 14, 2003 at 21:25:32:
Today I got a call from the female half of an unmarried couple who bought a Lonnie deal from me 6 weeks ago. They both had great credit, they were moving here so she could attend college and he got a job. They were thrilled with the MH and eager to do a great deal of fix-up work on it (which is good since it needed it).
Well, now they’ve broken up and she wants to know if she can get off the “lease” (her word) and have another person sign on because she’s moving out. I know they will keep paying me until this gets worked out, as they are both very credit-conscious, but I smiled when she said “lease” as it gives me the impression that they plan to give the house back at some point. I’d be happy to take this house back for whatever they still owe on it. Sounds like the classic Lonnie deal!
gotta LOVE this biz!!
PS-Yesterday I took possession of two old MHs: a 2 BR that needs cosmetic work (paid $2K) and a 3 BR that needs new siding and floor work (paid $0 for it, oh, and $100 to the PM). I’ve already got two interested buyers for the 2BR ($750 down and $195 for 48 mos) and the 3BR will sell for $14K on terms easily.