Posted by Fred-Ohio on November 20, 2000 at 13:06:48:
1 Tell the original owner that he is resposible for the note, but if he is comfortable letting Jr. take over the payments on his behalf, that would be up to him. You would still hold him resposible for the note and payments.
2 Tell him that you will take the MH back and sell it to Jr. for $500 down and some adjustment in the price based on what you are comfortable with.
3 Conclude that you can trust Jr., transfer the note to his name and charge a $200 Service charge.
Aren’t problems fun?