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Niicss
Joined: 03 Oct 2005
Posts: 1510
Location: New Jersey
230.97 Dollars($)
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 Posted: Mon Dec 01, 2008 1:54 am Post subject: |
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Hi cbizkette
You have said that you have a bad credit. In that case, I think it will be difficult for you to get mortgage for the mobile home. Keeping in mind the present market situation, the lenders are offering loan to people who have excellent credit.
However, I would suggest you to talk to the local lenders or banks and see what they are offering you. This community also has a number of lenders and you can seek a no-obligation free mortgage consultation from them. Then you can compare the rates and select the one which you can afford.
Thanks
_________________
Good is the Enemy of Great. |
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TO
Guest
0.10 Dollars($)
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| Posted: Thu Dec 11, 2008 5:04 pm Post subject: purchase of a mobile home |
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My wife and I have the opportunity to buy a foreclosed doublewide mobile home. The home is a very good price and is 3 blocks from the ocean. The home will be used as a year round rental property. The total cost is $140,000. She has been looking for financing and is having a tough time finding someone that we finance the purchase due to the economic times. We would easily qualify for the loan.
Can you recommend a few avenues to find a mortgage? Thank you for your help. |
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adonis
Joined: 22 Oct 2005
Posts: 1694
Location: ALASKA
175.62 Dollars($)
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| Posted: Fri Dec 12, 2008 12:26 am Post subject: |
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Welcome TO,
You can speak to the local lenders of the area and check out the terms and options they are offering. A bit of mortgage shopping before going for a mortgage plan will help you in the long run. Getting a mortgage will also depend upon your credit score and income.
You can also contact the lenders of this community through a no obligation free mortgage consultation (refer to Niicss's post above). I hope that will help you.
_________________
Procrastination is the enemy of your financial sucess |
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desperate
Guest
0.10 Dollars($)
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| Posted: Fri Dec 12, 2008 7:53 am Post subject: RE: Mobile Home & Land refiance |
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I am in an all equity loan situation and getting no where with payments. I had not idesa this was not a regular fixed loan that I had to begin with. With the trun donw in Market value is there any solution. I owe $72,000 and 2 companies said they would finace me if the mobile home and property valued at $100,000. I told them not without improvements and they dropped us like a hot potato. Is there any help?  |
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Eilynn Resler
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0.10 Dollars($)
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| Posted: Fri Dec 12, 2008 1:30 pm Post subject: trying to sell the moblie home |
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we have a moblie home for sell, because we had to buy a house to take careof my mother and Grandma too. Now my sister has no job and I on
disable and both of us is not have the money to keep, both places going on. please we need a buyer as of today.
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
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adonis
Joined: 22 Oct 2005
Posts: 1694
Location: ALASKA
175.62 Dollars($)
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| Posted: Mon Dec 15, 2008 12:24 am Post subject: |
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Welcome Eilynn Resler,
You can speak to the lender and check out for the options of deed in lieu foreclosure or a short sale. However, both these processes can lower your credit score. If you want to retain the property, you can look out for a loan modification with the lender. If the lender accepts a loan modification, he will give you an alternative payment plan to pay off the dues.
_________________
Procrastination is the enemy of your financial sucess |
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LATESHA
Guest
0.10 Dollars($)
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| Posted: Tue Dec 16, 2008 3:12 pm Post subject: BUYING A USED MOBILE HOME AND GETTING IT FIANCE |
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HOW HARD IT IS TO GET A LOAN WITH A SCORE OF 628  |
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jameshogg
Joined: 20 Dec 2005
Posts: 1835
Location: nevada
272.70 Dollars($)
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| Posted: Wed Dec 17, 2008 12:16 am Post subject: |
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Hi LATESHA,
I think you should try out for a FHA loan. If you have a good income and there are no late payments, charge offs or collections then FHA lenders can offer you mortgage. You can speak to the lenders of your area and check if you will be able to get a loan or not.
You can also speak to the lenders of this community and seek a no obligation free mortgage consultation. Check out Niicss post above to get the link. Let's hope they will be able to help you.
Thanks |
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rhauver@nc.rr.com
Guest
0.10 Dollars($)
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| Posted: Fri Dec 19, 2008 9:12 am Post subject: Value Of Mobile Home |
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| I'm interested in purchasing a 1993 14x80 Sterling Mobile Home which is in a rental lot park. They are offering it at $11,000, but I'm not sure that is a fair value. How can I find that out? Thanks. |
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Niicss
Joined: 03 Oct 2005
Posts: 1510
Location: New Jersey
230.97 Dollars($)
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| Posted: Sat Dec 20, 2008 2:32 am Post subject: |
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Hi rhauver
You can contact an appraiser and ask him to do a appraisal of the property. This will help you to know the fair market value of the property. However, you should inform the seller that you will take the help of an appraiser in order to know the fair market value of the property.
Thanks.
_________________
Good is the Enemy of Great. |
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angela and tracie
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0.10 Dollars($)
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| Posted: Sat Jan 03, 2009 10:44 am Post subject: mobile home |
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I live in KY and am paying $600 a mo (rent to own) CLAYTON HOME 28X52 3 BEDROOMS 2 BATHROOMS
DINNING ROOM, FIRE PLACE, great shape asking 19,000.00 I do not have good credit, my friend has no credit... we do not have land we have land we can move it on, we want the loan in our name they owe a local bank. How can we get the loan put in our name with no land our local banks will not fiance without owning land "angela.hatton@live.com"
[Link deactivated as per forum rules. Thanks.] |
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Texas
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0.10 Dollars($)
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| Posted: Sun Jan 04, 2009 10:34 pm Post subject: Mobile Home on Land - want to build |
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| We bought a mobile home on some land a year and a half ago, and got a mortgage for the whole thing together. Is it possible to sell the mobile home and build? What must be done? |
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smithsussane
Joined: 18 Sep 2008
Posts: 1380
Location: Alaska
172.48 Dollars($)
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| Posted: Mon Jan 05, 2009 1:02 am Post subject: |
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Hi,
Welcome to forums!
To angela and tracie,
As it is a mobile home, the lenders will not agree to transfer the mortgage in your name without owning the land. You can speak to the lenders and check if you can get a personal loan in this case. But again you should note that you will be charged high interest rates in this case.
To texas,
There are chances that the lender may consider the loan due if you try to sell off the mobile home. However, I would suggest you to check you loan docs properly and consult the lender before selling it.
Sussane |
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Maggie
Guest
0.10 Dollars($)
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| Posted: Mon Jan 05, 2009 6:05 pm Post subject: Finding a lender |
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I am going out tomorrow to look at a 2008 singlewide in a park here in maine. I have been at my job almost a year. I own my 2006 Dodge Caravan outright. I have between 750 and 800 credit (the last time I checked a year and a half ago). And don't carry alot of debt month to month.
BUT...I can't find a lender online that lends to Mainers. Also, I couldn't find anyone to "prequalify" me. I don't want to go through this process and then find out I don't make enough.
The home I am looking at is about 37000. I make about $1900 a month.
Help?! |
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jameshogg
Joined: 20 Dec 2005
Posts: 1835
Location: nevada
272.70 Dollars($)
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| Posted: Tue Jan 06, 2009 1:02 am Post subject: |
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Hi Maggie,
The credit score that you have mentioned in your post seems to be quite good. So I think the lenders should have approved the loan for you. But did the lenders give you any reason as to why they are not giving the loan or pre-qualifying your loan? The lenders will also want to check your income history. If you do not have a stable income history, the lenders may not give you a loan.
You can speak to the lenders of this community and seek a no obligation free mortgage consultation. You can refer to the post above by Niicss and get the link. They will help you know what kind of rates and terms you may get. They will also help you to know about the market rates and terms.
Thanks |
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