I asked a question about mobile homes in that section mostly about finding financing on a 1973 single. I have had little luck finding any one that will do financing on this old of a unit. So for the short sale side question.
I was wondering if any one had tried to do a short sale and ask the same finance company to do the financing for my short sale.
So what I would do is try to get the short sale down as low as I can right now the mortgage is for 55k trying to get them down to 25k with the reasoning that no one else will touch the property because of age and it needs about 8k of fixing up.
Then thought about asking if they will do the financing on the negotiated short sale.
This unit is on its own lot and the land is worth about 20k+ in a good area of town.
Any thoughts on this or has anyone ever tried this with any success?
Not sure that their board of directors would let them do it or not!
By the way the strategy is to buy and hold for rental.
Keith