All Forum Posts by: Elaine Ericson

If it were a stick built home instead of a mobile home there probably would be less risk as long as property was insured.

Yes, this is my plan to get the land back, have attorney and title company check all the legal boxes and ask my CPA to write it off as a loss

Buyer is going to deed the property back to me and I'll take a Promissory Note.  I do like your idea of including a "confession of judgment".  I have not heard of that before.

Do you know if a Deed in Lieu of Foreclosure is different that Buyer just deeding the property back to me?

I do like the idea of a check and when she pays closing costs ($515) for the title company and I'll pay attorney fees I'll have her write a check and get a copy of it.  Plus, I'm going to push either Title Company or attorney to get her SS# and License #.  I think the title company must have these to close.

Thanks for great advice.  Much appreciated.

Thanks.  I guess we'll keep an eye out for any changes in the Jan. 13, 2025 date.

Real Property mobile home and land.  Closed at Attorney Office.  Yes Note and Mortgage.  Would have to review documents about "waste" question.

Is it back on ?  Do we need to file FinCEN - BOI ?  

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.

Happy to help.  I own two mobile home parks and several on their own land.  30 total. I'm going to be selling my 2 mobile homes in the next 2-4 years and narrow my inventory to 6 stick built homes.  Mobile homes are cash cows and we are doing extremely well with them.

2 bedroom.  Gives you more options. Traveling nurses work a lot of hours so extra space not needed. I would remove the double doors going into kitchen and put a laundry closet there. Depending on space might need to do a stackable unit. From the outside place loveseat or table & chairs where those doors were.  3 set of double doors not needed and the swings take up space. Might even consider large stationary windows where middle doors are.  This way more porch and outdoor seating available. I design homes.