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 popeyeisdad
Joined: 19 Oct 2009
Posts: 2
1.54 Dollars($)
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 Posted: Mon Oct 19, 2009 1:37 pm Post subject: Can I get a loan? |
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| I was in bankruptcy and came out of it in order to sell my home. Had a buyer at that time, it came out of bankruptcy and the deal fell through. Finally sold the house on Sept. 29th. Originally filed bankruptcy on my home and car due to a layoff. That was all the debt I had. I'm trying to buy a mobile home and only owe $3,000. to get a clear title. It is a Palm Harbor 2006 single wide. I used my 401K money to pay the rest along with $7K from a friend. Would like to borrow $12,000. to pay the balance of $3K to Palm Harbor, 7K to my friend and use the other 2K to put up a porch and carport. I bring home 2400. per month and pay out $360.00 for my lot rent. Can you please help....my credit because of the above is BAD but no one will give me a chance. I would like to pay off in 4 years maybe sooner depending on payments. No other payments except electric. Would set up to come directly out of my check from work just like I did on the bankruptcy. |
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popeyeisdad
Joined: 19 Oct 2009
Posts: 2
1.54 Dollars($)
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| Posted: Mon Oct 19, 2009 1:38 pm Post subject: not a used home |
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| the home was not used it was a model home from Palm Harbor |
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cavoyagehomeloans.sac
Guest
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| Posted: Mon Oct 19, 2009 2:21 pm Post subject: Moblie Homes |
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Typically you are not going to get a loan from the traditional banks. I suggest you try searching for mortgage companies dealing with moblie homes or look for a mortgage broker. They will know where to place or get a loan from.
Sam
voyage home loans |
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shane
Joined: 03 Dec 2007
Posts: 121
Location: Orange County, CA
29.93 Dollars($)
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| Posted: Mon Oct 19, 2009 2:24 pm Post subject: |
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Since you don't own the land, you would only own the home, the type of loan you are looking for is called a "chattel mortgage" or "home only mortgage", and even when lending was as it's most lenient there weren't many who did those types of mortgages. The only remaining three that I know of are 21st Mortgage Corporation (owned by Berkshire Hathaway, Warren Buffet's company) out of Knoxville, TN, JCF Lending Group out of Las Vegas, NV, and Vanderbilt Mortgage out of Maryville, TN... but $12k could very well be too small for them, plus with the recent bankruptcy not sure if you'd meet credit guidelines. If you are upfront and clear explaining all of your issues then you should be able to find out within the initial conversation if getting approved would be likely or not.
_________________
Shane Milne
TheBestHomeLoans.com
Mortgage Broker
Direct: 949-273-4161
Lending in 50 states + the District |
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