assuming loan balance on property and a MH

[DEBBY]

we are hoping to acquire the property next to ours which has a MH on it. the owner is in foreclosure.the bank would like someone to qualify and assume the mortgage. WE NEED TIPS on how to approach and deal with the bank.next week the bank wants to meet with both the owners and ourselves

[rmurray]

Find out the payoff...then treat this as a used home purchase.....compare prices in the area of other used homes...Make the bank an offer at about the local market price of this home...They can refi the home..and will if the offer is acceptable....This will save the bank thousands in moving costs they will have to pay if you do not buy...Most likely a good market price will be WELL under the payoff figure......Good luck