Posted by Ernest Tew on July 15, 2001 at 06:34:18:
Owning a mobile home on someone eles’s private land can be very dangerous. If (when?)they decide to stop paying, you are faced with the high cost of moving the home and setting it up somewhere else. Of course, if you also have a mortgage on the land (assuming there is enough equity to back it up) you could foreclose and get the land and home and not have to move it.
Info on the value of a MH - Posted by Karen B (FL)
Posted by Karen B (FL) on July 12, 2001 at 17:18:11:
I just received a call from an ad I placed in the paper from a woman who owns an 83 14x70 MH, with about a $6-7,000 balance on the loan. She said the front bedroom and bathroom have been remodeled with drywall. She wants to sell the home only, not the private lot that it is on. Does anyone know the value of this type of mobile home? I’ve never worked with MHs before, and have no idea how to find out a comparible, or if it is even worth my time. Any help would be GREATLY appreciated!
Karen B