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Mobile Home Park Investing

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Margaret Weyandt
  • Investor
  • Williamsburg, PA
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Question about being a leinholder on a mobile home

Margaret Weyandt
  • Investor
  • Williamsburg, PA
Posted Nov 25 2014, 15:25

I need some advice from someone more experienced than myself.  I helped my son and his girlfriend purchase a mobile home.  He wanted her name on the title so I was listed as a lienholder.  We created a contract to spell out payments, interest, etc.  Everything was fine until my son died this summer.  Now, she gets the trailer and I get the loan. We could have claimed the loan as due and payable but she did not have the money nor a way to get it and wanted to make payments. But, she now is moving back to her home state. I know that my son's life insurance through work went to her but I don't know how much. She wants to 'work something out with the trailer'.  I am not sure what options I have as a lienholder.  Can anyone help?

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