Mobile Home carry by owner

[AFSarge]

What is the name of your state?
Nevada. I signed a promissory note to purchase a mobile home from the seller. He is carrying the contract. Since the purchase, I have become disabled and am having a VERY difficult time making the payments.
Do I have any recourse?

 

[I AM ALWAYS LIABLE]

What is the name of your state?
Nevada. I signed a promissory note to purchase a mobile home from the seller. He is carrying the contract. Since the purchase, I have become disabled and am having a VERY difficult time making the payments.
Do I have any recourse?

My response:

Recourse to do what?

Are you asking if you can stay in the trailer without paying for it?

IAAL

 

[AFSarge]

re: I AM ALWAYS LIABLE

I would like to give the mobile home back to the seller and move into an apartment that I can afford.

 

[I AM ALWAYS LIABLE]

Re: re: I AM ALWAYS LIABLE

I would like to give the mobile home back to the seller and move into an apartment that I can afford.

My response:

Well, that depends upon the "kindness" of the owner, and whether or not he's willing to allow your breach of the contract. As long as you don't expect any money back, and you're willing to "walk away", I don't see why the owner would hold your hands to the fire. Make no mistake, he could; especially because the economy is bad, and finding a new buyer may be difficult, and he would be within his rights to expect that the contract be upheld by you.

But, it doesn't hurt to ask. The worst he could say is, "No."

In that event, you could ask him if you could advertise it and do the legwork yourself to find a new, qualified, buyer to take over the contract, or to sign a new contract.

Remember, if he wants to let you out, you may be required to endure some expenses to find a new buyer. That way it will be a win/win situation.

Good luck to you.

IAAL

 

[HomeGuru]

IAAL, thanks. You really answered a mobile home thread,