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MH notes no land - who's still buying them

HeidiWhite profile photo
  • Wednesday, May 21, 2003 @ 11:18 PM EDT
  • 3 Comments

Can't find any note buyers willing to look a paper on a Mobile Home not tied to land.

State: NY
Value of Note: $20k

Seller has not yet created this note for the buyer.

Does American General still buy these?

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Comments(3)

  • no photo
    mhnotebuyer20th May, 2003

    I can only speak for myself. We buy these kinds of notes, BUT we only buy partials. We will not buy the entire note. The reason is that we as investors want to spread out the risk of the note defaulting.

    Questions we would ask.

    So who is collecting the payments? Are they near where the MH is?
    Are they getting part of the payment as well? (That would be good).
    Did they create the note with a "Lonnie" type deal?
    How long is the term?
    Interest Rate?
    Seasoning?
    Credit on payor.

    Dave
    www.mobile-home-notes.com

  • no photo
    HeidiWhite20th May, 2003

    Hi

    That particular deal is 'long gone' but it's great to have your email.

    Thanks for the response.

    Heidi

  • no photo
    mobilehomesrforme21st May, 2003

    Hi heidi,

    I have a note comming available in about 30 days that I would like to sell partial of. Would you, or could you let me know who bought yours? Or if you have contacts for this arena? We can correspond by email if you don't want the whole world to know, or whatever you like. Please help.

    Stanley

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