Mobilehome !???$?$ - Posted by R. Sullivan


#1

Posted by Dirk Roach on December 01, 1998 at 14:59:13:

Is the loan assumable? If not one possible solution would be to rent the home. But what I would do is set up a trust, get as much of a downstroke as I could from someone, structure their monthly payments around the 209. mark (paid into the trust) the trust then 0pays the finance company. And everyone is happy. I don’t know about finding someone with 10k to put down, but you might. was the dirt that the MH is on part of the 52k? If not I wouldn’t be real excited to sell it. I would however think about renting it out. Yes the peolpe have bought the MH (on terms) but they are renting the space. I’m not sure if any of this adivce is legal, but I would check it out.
Dirk


#2

Mobilehome !???$?$ - Posted by R. Sullivan

Posted by R. Sullivan on November 30, 1998 at 21:51:48:

My Sister purchased 1 acre tract of land and an 24x 48
d/w mobile home in haste after her divorce, she paid
cash for the land, then purchased mobile home for
52000.00 !!! paid $10,000 down, (crazy) financed for
30 years ,simple interest , notes 209.81 per month.
She has now remarried, and moved and now wants to sell the trailer, but she is trying to at least recover her down
payment. Pay off on mobile /Home is around 41,700.
Is there an profitable solution to this problem. or shoule she just take her losses and let someone assume her note???