Posted by Lyal on July 25, 2003 at 07:08:54:
Stanley,
I haven’t checked but have you posted this on the mobile home forum? Might get more response there. Lots of expertise with homes and parks on that board.
All the best, Lyal
mobile home financing - Posted by Stanley E
Posted by Stanley E on July 24, 2003 at 13:27:34:
I stumbled across your site today.I bought a mobile home
park through foreclosure recently,and had no intentions of
of being in the mobile home business until I ran across your site .This is a wonderful commercial property with
an excellent apraisal and location in a rapid growing
area.The Question is how do you handle the buyers that file bankruptcy on the notes,and is there a nonpayment clause that might cover you in such an event.I have experience with a finance deal gone wrong now due to bankruptcy .The buyer filed bankruptcy and I only get
a small payment on a monthly basis and he gets use of my property for almost nothing,luckily it is not a large sum of cash.