Posted by Dallas P. Allbritton on February 12, 2001 at 13:52:03:
I hold a note for a singlewide that I want to sell off. None of the note sources I know of will deal with a single wide. Are their any? The buyers have been in place for over a year, put 1K down and pay on time. There is an assumable 1st in place and the lender has never made issue with paying it off or assuming it formally.
I am movig in anotehr direction with my investment business that does not include single wides in parks. I am only seeking $500.00 for the note. Contract price is $18,300, the buyers put $2,000.00 down and pay $329.06/month over 7 years (84 months) at 15.5699%. There is a 10% late fee due after 5 days, which they almost always have to pay. My note is $278.00/month and the buyers are required by contract to pay lot rent to me for the lot owner but they have been paying it directly to lot management.
The unit is a 1996 Clayton in very good condition inside and out. They have been 30 days late once when the payment was lost in the mail.
If you are interested please contact me by email or by phone at 615-341-0930
Dallas