Posted by RobertR CO on May 22, 2000 at 21:00:05:
Call me one who did not understand what you wrote but those who did not “pay attention” offered good advice.
As a lender I want to know the status of my collateral and my payor. If someone is kind enough to alert me to the status, I thank them profusely. Who knows, they may keep me informed next time. Since this is a relationship business (and negative information spreads faster than positive) I must especially maintain a good relationship with the park owner and manager.
Even if I plan not to do any deals in this park because it is too far away, I still treat the owner as an ally. I work with the owner to address his concerns about my payor who occupies my collateral. In addition, I will need his approval of the tenant who buys after I repossess.
Let’s face it, your payments may be in jeopardy. Better to address the problem before it gets worse. The ancient Indian scriptures state:
“Avert the danger that has not yet come.”