The Manufactured Housing Forums

Where can a MH owner access downloadable documents off the net concerning owner finance/lease-with-purchase contract/agreement. I've seen some available around the net but wanted to ask first if there were specific sites that listed documents that were fairly inclusive or where one could tailor the contract to suit the owner/leasee's needs. I asked a real estate attorney who wanted $150/hr. to draw up said contract. Think I can find what I need and am specifically looking for somewhere on the net without selling my soul for it. Just need to be pointed in the right direction. Thank-you.

You might find some documents..but remember every states laws are different...

You probably can get good documents for simple business transactions from the local Office Depot or other office supply store..

BUT..remember proper docs when it comes to finance are very important...The "Truth in Lending Laws"..Regulation Z Have VERY severe penalties for errors...I have seen large national lenders lose Regulation Z cases..in which they had to forfeit the house...return ALL down payment money..and return every dime paid in payments..plus pay a fine...

With potential penalties being so big...it might be prudent to pay for that legal advice..

I have only wished that the three past lenders that have had and currently have my note would fall into the "Truth In Lending Laws" reg. you talk about. I wouldn't still be selling this home. I'll take my chances. Probably default on the home anyway. So why spend hundreds more on a lost cause! Most attorneys that charge that amount have no incentive to get the job done in a minimal amount of time. His incentive would be to drag out the process and tally hours for a couple of pieces of paperwork. I feel I can do this w/o spending hundreds to thousands of dollars waiting for an overcharging, underworked attorney to finish the job! There has got to be an easier way without paying an absolute premium. The home is located in Texas. I've been trying to sell it for two years now (during this time, I have seen other homes, at a minimum 50-to-80 in the community where I live, change hands) and am at the end of my patience. There has to exist a way to get a new owner for my home even if the state of Texas places a moritorium on assumptions for lenders (so goes the info. I received from the reincarnated GreenTree) even when my contract with my current lender explicitly states that my note is assumeable. Another strike against the Texas homeowner!

I am sorry to hear about your problems...I thought you were setting up some sort of business on the cheap..

If you have seen 50 to 80 homes arround you change hands..What is it that makes your so undesirable????What did these sellers do that you are not???????

Actually one of the national lender i saw lose a regulation Z case was the old Greentree...

Oh God no, I would never dream up a business dealing with MH! The current, past, and future lenders and dealers have a disposition and mindset that a normal person would pobably consider on the edge of insanity due to the MH industry being in the dumps for the past few years with no certain "light at the end of the tunnel." I was wanting to draw up paperwork in the expectation of trying to pass the home onto new owners if they cannot get their own financing. I am just a home owner trying to sell a singlewide in the glut of others and move on to bigger and better things. Why am I still here after 2 years trying to sell and all of these other homes have changed hands...? Well, most of the other homes I speak of were repos. that were had at little to nothing compared to me asking a lot less for what I owe on it just to compete. I've seen repoed homes sit for 8-10 months to a year+ empty and somehow or another, a buyer gets the home and it now has changed hands. If I could answer your questions, I'd be located somewhere else and in another home. I personally feel that the park I'm in has me under their thumb but could not prove it. [ Alto, I had the VP of Ops. state that I am the most hated tenant that the "mgt." in place has to deal with. And that he wants us out either by the sales staff (which has zero incentive to sell anyones home, except the many that they own) aiding in selling our home or, we would be forced out=evicted, when our lease is up. The expectation that our "mgt." will provide a safe and reasonable quality way of life in this community while insuring peaceful surrounding is too much to ask of our immediate and higher "mgt." They're too busy to concern themselves with such trivial details. "We're only here to keep the lightbulbs on and answer the phone a couple of times a day. But, most importantly, collect and register rent the first five days of the new month and increase it at a whim every new year.] There are so many repos. and other owners to compete with that it is all overwhelming and there no longer remains the fight in us to see this home sold. Is there any truth to the condition I spoke earlier of that assumptions in the state of Texas have been put on hold by the powers that be in this state? A condition that my new lender, GreenTree (II) informed me of just recently. The old GreenTree (I) case that you speak of, was it on multiple notes or just one case b/c this is news to me. But, alas, I'm not an industry insider privy to cases as such, I'm just a lowly home owner that is subject to the will of investors and corporate financiers. Again, we're on our third lender with GreenTree I, Conseco Finance, and finally GreenTree II. And our current lender expects a homeowner to be able to sell their home at the payoff amount regardless! Even tho. Conseco Finance liquidates their singlewide repos. at $6-8,000 a piece...! Yhea, we can compete with that flood...

Rod, I have been reading about your situation,..I really don't know your whole situation but...just thought here !..have you thought about finding a piece of land and having your home moved and refinanced as a land/home deal this way you could get morgage rates which would probably be cheaper than the home and lot rent...some lenders will handle the moving of the home with the total loan.....just a thought!! Hope things work out for you no matter what they are....

Hey Danny, thanks for the thought but we desperately want to move out of the area we are in. Like anywhere from 4-5 hours away within state up to and including moving to another state! Our finances are extremely limited and land in the area we live in is at a premium, not to mention all the costs involved in moving, set-up, et al. It's just not an option for us besides when bad weather season sets in, my wife is a neurotic ball of nerves and the buttons wear off of the remote trying to find the latest update to the adverse weather coming in. She went thru a really bad storm back Summer '01 with recorded 70 m.p.h. straight-line wind gusts and no electricity while I was away attending a 50th wedding anniversary out of state. Needless to say, she is finished residing in an elongated structure that sways, moans, and twists with every blast of wind that might be the one that is the tornado to end all tornados! We live near Jarrell, TX, and the devestation left behind by that monster never leaves your imagination when a bad storm approaches. Ever.