Lender Directed Sales


#1

The cycle of doom and gloom has come full strength to some areas in regards to mobile home parks. I have been compiling information on the the number of price reductions and lender directed sales within our industry and the numbers are skyrocketing. There will be some great deals to be had if we can start tracking the notice of defaults on mobile home parks. Notice of defaults are public information and the next step if the borrower cant correct the payment deficiency is foreclosure. I am thinking lots of people over paid for parks during the boom days and now the problems are setting in. Lenders make horrible managers of this asset class and are usually anxious to get rid of them. I am looking

Rick Ewens


#2

Rick, I agree with your conclusions, However, I don