We are in negotiations on a park that includes 4 mobile home notes with a balance of about 47k , original balance was 62k
1)First question is what type of discount should we be offering from what i have read we should discount it about 25-50% of the existing balance or whatever the homes are valued at(all late 90’s single wide)?
2) if the seller underwrote the notes himself and they don’t comply with Dodd Frank , as I believe they were all issued ion the last 5 years , then what? State is AZ
Your feedback is much appreciated.