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Updated about 1 month ago,

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8
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3
Votes
Elaine Ericson
3
Votes |
8
Posts

Promissory Note - how to secure or any ideas to help in this situation?

Elaine Ericson
Posted

I sold a mobile home giving Owner Financing (OF) (never again will I offer OF).  The buyer had the mobile home demolished.  Crazy I know.  She is now in arrears 3 months and has agreed to deed the land back to me and take a Promissory Note for the balance 30K.  I think this arrangement is better than nothing or me taking her to court to only get the land back.  I know she can stop paying on the Promissory Note as it attaches to nothing.  Any ideas appreciated?  She is a real estate agent but rents so no property to place a lien on.

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