Mobile Home Contracts - Posted by Jen

Posted by Anne_ND on May 28, 2006 at 10:58:48:

and find them when they stop paying.

Mobile Home Contracts - Posted by Jen

Posted by Jen on May 27, 2006 at 20:04:37:

Hi,

I am new to the mobile home industry and I bought Lonnie’s books “deals on wheels” and I am confused about the contracts and would like some information.

Regarding the Promissory Note, when it says "promise to pay to the order of…’ what do you fill in after you fill in your name, so then the buyer cant refuse to pay another party?. Would I use my name and then “and/or assigns”

Re: Mobile Home Contracts - Posted by Max-Va

Posted by Max-Va on May 28, 2006 at 05:37:56:

The words “pay to the order of” take care of that. It means they pay to you or anyone you order them to.
I am not an expert on this but I know notes and mortgages without the “Pay to the order of” are of little value when selling the paper. It has been discussed over in the cashflow board

Re: Mobile Home Contracts - Posted by Jen

Posted by Jen on May 28, 2006 at 08:48:58:

Why would I need the sellers SS# and their DOB?