Are we missing something??

[Chelsea]

We have been trying for close to 12 months to sell a 1999 1150sf doublewide, 3bed/2bth in a Thornton Colorado park. We have it listed with the Park for $39,500 , OBO -- we're prepared to take a beating on it -- we owe $46K. And not a single nibble on it.

The park is filled with homes for sale (about 25% when we left), and most of them foreclosures. The park tells us that no one is financing on used homes now. We're obviously desperate; should we knock down the price to $25K or less to get under the foreclosures? - should we give up and let them foreclose? --- we even have contemplated moving the beast out to land in Oregon (where we are now). Anything to get out from under this liability!

Any ideas, sources, comments? Thanks

[Robert Cruz]

Dear Chelsea,
So sorry to hear about your predicament. Have you attempted renting out your "beast"? If you have not been able to find anyone to take you up on renting your home, then I may be able to obtain financing for it if you have a buyer or refinance the home for you.

Robert Cruz
Account Executive
Associated Financial Group
San Antonio, TX
(210) 534-6406 Office
(775) 263-8914 Fax

[Chelsea]

Sorry, should have mentioned it before. We are not allowed to rent - the park requires the home to be "owner-occupied". We did get confirmation, however, that we can do a lease-option, as long as there is a finite term for when the buyer would take over ownership. I'm mostly worried about the liability if that person walks -- and trying to figure out all the legal stuff so we don't get hurt worse than we already are.

-CJS

[Me again]

A lot of companies will finance on a used home less than 10 years old. Try selling it and paying the costs to move it to their property.