I have a manufactured home that I've been in for about 4 years now and I'm looking to get out of the mortgage and the rent agreement. It's only worth $17000 and I just want to get rid of it but I don't know how. Can someone shed some light on this situation for me please.
2007-10-15 07:53:59 · 2 answers · asked by level_9yo 2 in Business & Finance ➔ Renting & Real Estate
Many questions prompted by your question. what are the monthly payments including rent? How much equity to you have in the property?
Your best bet would be to clean it up and rent it out. If you can do this and still make your payment, you retain your equity and don't screw up your credit.
You can sell the home. Consider listing the home and see what the market may bring. Something is better than nothing and you might luck out and find a reasonable buyer.
Or... offer a lease option on the property.
Or... Just pack up and leave. Your credit will suffer and you will lose what equity you have but its a valid alternative.
2007-10-15 16:03:58 · answer #1 · answered by Traveler 7 · 0⤊ 0⤋
In most states, you can sell a manufactured home the same way you sell a car. Put it in the newspaper.
2007-10-15 08:16:01 · answer #2 · answered by Hatlady 3 · 0⤊ 0⤋