Sell The Loan On A Mobile Home Park
St Paul Group can acquire your loan on a mobile home park. If you are a lender/note holder on a mobile home park, a note sale is a fast and easy way to cash out of the loan. We can buy both performing and non-performing loans on mobile home parks. Contact us for a quick and confidential discussion.
St Paul Group
2443 Fillmore St #340-1992, San Francisco, CA 94115
ph. 888-411-0557
info@stpaulgroup.com
When a loan on a mobile home park defaults, lenders have limited options. On one hand, lenders may adopt the ‘extend-and-pretend’ strategy – hoping the current owner will find a new way to improve the park or that external factors such as economic recovery will restore cashflow. Most of the time, neither will happen. The other option of foreclosure and taking the property back, may not be attractive. Often the process takes significant time and money. Further, banks are generally not set up to manage foreclosed assets so they relegate management to expensive third party companies driving costs up and value down as a result.
Another scenario common to the market is a lack of financing for smaller distressed parks. As a result, Sellers have no choice but to provide financing. For those sellers stuck holding a note, we offer a solution. Certis will buy seller financed debt so sellers can move on as they intended.
St Paul Group is experienced in note purchases. We strive to make the transaction fast and hassle-free for the lenders and sellers.
Contact us for a quick and commitment free discussion on a mobile home park note sale.
Information – You will give us information about the park and the current situation
Valuation – We will analyze the park according to our underwriting criteria.
Offer – If your park fits our criteria and we can provide an attractive price, we will submit an offer.
DD/Closing – Once the offer is accepted, we will conduct a fast due diligence and close.