That finance company will need to employ a MLO or you or one of your employees will need to get licensed as an MLO.I would do nothing about the existing loans until you had the proper licensure and had the company set up properly which would include a Compliance Management System as required by law.My final though is you should not buy these loans without a very deep discount, and if you are not planning on generating 12 or more additional loans a year through the park purchase and/or more land home loans, you should pass altogether on the land/home portfolio.Chattel lending and land home lending are two different animals with different legal protocols and documents and interest rates.

If you think you were deceived:1) Try to stop payment on your check, even if a cashiers check/money order2) Talking to lawyer will eat up most of your deposit, unless the seller is concerned about some fraud on their part, and maybe they'd cover your legal fees too.

I am considering taking the lump sum, eating the taxes and penalties and investing the balance in real estate.

They really eat into potential profit.I really appreciate your input. 

SD real estate is a whole different animal and you have to work with what you can find.

I would therefore write up a contract now to lock up the deal, expect a healthy rehab due to all the animals and extra damage, etc.

I'd eat it and order a set of filters of Amazon to be sent to the house.  

She basically told us she wanted to eat breakfast and lunch in the home one more time!!!!  

Chapter 13 is a different animal and more complicated.But here's the thing: the owner still owns the property so he has something to sell even if the BK is discharged.Bottomline: you need to do your research and find as many details as possible like...1.

Get the book then go eat some greasy food.