AboutDick Dennis Expertise With more than 37 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter.
Experience Problem solving since 1980
Organizations National Association of Realtors
Publications Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers
Question We want to sell our mobile in a park. We owe about $26,000. It is in a park where people are leaving and the park is nearly empty. We can't get what we owe, adn our family has grown out of our home. We just want out some way or another! Please help!
Nikki
Answer My guess, Nikki, is that no matter to where you move, you will pay more each month than what you are paying now on your mobile home, not counting the rent on the lot. Be aware that you may owe some money to the IRS if you walk away from the house. The lender will report it to the IRS and the IRS will send you (or the lender) a 1099 saying how much you owe. If you move out and move into a regular home on a rental basis, you will probably pay more. The way you are you pay on The $26,000 plus the monthly rent, probably less than what you will have to pay on a rental basis on a condo or a regular house. Otherwise, see if you can sell it for about $15,000. Show that you really want to sell. But you really do not say why you need to sell. There are many people who are trying to get out from under their loans, as you already mentioned (virtually empty park). By the way, your mobile home is NOT real estate until it is connected to land and is part of the sale. I wish you well.
