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tolsons
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0.10 Dollars($)
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Post subject: Is Purchase Possible? |
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Hi. My husband and I had a Ch. 7 bankruptcy four years ago. All that we effectively did away with was credit card debt. We kept the house. Now with the economy so tight and our budget stretched past the point of breaking, our house is killing us. We have talked to our local realtor, and he feels pretty confident that we can sell and get what we would have to have to pay the mortgage company, even fairly quickly in his opinion.
We are considering buying a single-wide mobile home because there is just the two adults plus one child. We can put the home on hubby's brother's land or my parents' land. However, with the bankruptcy and several Credit Card and Medical bills in collections (not enough money for everything for the last several months; again, that's the point of selling the house - to free up money), will that even be possible? Is there anyone out there who makes a loan on a credit risk like that? |
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chill
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0.10 Dollars($)
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Post subject: mobile home loan |
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| I need a loan for land an the mobile home thsat is on it. I do nt have good credit but my credit is not bad. can you tll me a place that will help me ? :? |
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Tina SClair
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0.10 Dollars($)
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Post subject: Loan |
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my fiance and I need a loan..can some one help us....we have 4200 cah on hand to put down and the mobile home loan is for 39000.00
my number is 410-703-9262 |
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jenkin7
Joined: 04 Jun 2007
Posts: 4282
Location: Hawaii
675.69 Dollars($)
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Post subject: |
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Hi tolsons,
Getting a new loan in the current situation does not seem to be possible. You can list the property for sale and see what kind of offers you get. Do you know what the current appraised value of the property is? This can give you an idea about what the property could be sold for and whether you would be able to pay off your debts with the sale proceeds.
Hi chill and Tina,
You have not mentioned what your credit score are. Getting a loan with poor credit is not going to be easy in present market scenario. You will be required to pay a high rate of interest and a good amount of down payment, besides fulfiling other requirements set by the lender. However, you can seek a no-obligation free consultation with the lenders in this community. If your profiles match their requirements, they will contact you and offer a free mortgage quote. |
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stacy
Joined: 25 Sep 2007
Posts: 15
Location: CA
4.83 Dollars($)
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Post subject: Mobile Home Knowledge |
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Jessica,
I am very impressed with your knowledge of mobile home loans and financing!
Being in the real estate and mortgage industry for over 18 years,I never really gave too much thought to mobile and manufactured housing - until I purchased one for myself! It was a nightmare finding someone who truly knew what they were talking about. It was time to give up and throw in the towel or take the reins into my own hands!
Now specializing in mobile and manufactured home loans, I still cringe at the misinformation given to people - I just wanted to give you "kudos" and let you know how refreshing it is to see there is someone else out there who knows her stuff! Thanks! You make my job of actually doing the loans easier!
_________________
Stacy Potts
Operations Manager/HR Director
mobilehomeloaner.com Mobilehomeloans4you.com
Phone: (925) 497-7582 FAX: (925) 665-0409
www.mobilehomeloaner.com www.mobilehomeloans4you.com
“OUR PRINCIPLES MEAN MORE TO US THAN ANY MONEY OR SUCCESS” |
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Gregoloff@aol.com
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0.10 Dollars($)
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Post subject: Short sale of existing home and buying Mobile home simultane |
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Due to a drop in income this past year I am forced into "short sale" on my condominium. As I prepared to move into another home, I assumed that I would need to rent an affordable apartment. Landlords are hesitant with this condo payment history on my credit report. However, a lender on a Manufactured home, (foreclusure), approved my loan application at a moderately high interest rate but I was relieved to even get that deal. The monthly payment with taxes and interest will still only be about 350.00 a month. I have to then pay 400.00 a month to lease the land the home sits on in a Mobile home park. Total "house" payment for a really nice 3 bedroom home will be 750.00 a month, (about 1/3 of my existing mortgage and HOA fees per month.
So....the question is will my mortgage lender prohibit or prevent my ability to take a loan and make payments to another lender when they have accepted a low offer in the "short sale" process? In other words if I am not able to pay them fully can I then legally pay some other lender and not them? My feeling is that I obviously need to pay rent or housing SOMEWHERE and although this new plan of 750.00 per month is a "mortgage payment", it is far less than I would have to pay for rent anywhere in Chicago area where I live.
Would really appreciate info if anyone can address the legality, ethics, integrity of my housing plan. Thank you |
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savior70
Joined: 25 Mar 2009
Posts: 1776
Location: Florida
237.75 Dollars($)
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Lynn
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0.10 Dollars($)
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Post subject: Refinancing a Mobile Home |
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My parents purchased a very nice mobile home in Florida at the top of the housing bubble. They now owe more than it is worth and they are paying a high interest rate. They lease the land. They are looking into a loan modification with a company that is asking for money up-front with no guarantees. I have warned them that it is probably a scam since their bank has already told them they do not qualify for loan modification.
Is refinancing with a lower interest rate a better solution for them? They have good credit and are not delinquent on payments. |
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savior70
Joined: 25 Mar 2009
Posts: 1776
Location: Florida
237.75 Dollars($)
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Post subject: |
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Hi
Your parents ought to be very careful. This can well be a scam. Ask them not to pay any money upfront. A refinance would be good. But with little equity in the property, that option might not work. Did you ask your current lender why they think your parents do not qualify for a modification? |
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savior70
Joined: 25 Mar 2009
Posts: 1776
Location: Florida
237.75 Dollars($)
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Post subject: |
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Hi
Your parents ought to be very careful. This can well be a scam. Ask them not to pay any money upfront. A refinance would be good. But with little equity in the property, that option might not work. Did you ask your current lender why they think your parents do not qualify for a modification? |
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Trapped in PA
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0.10 Dollars($)
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Post subject: Mobile on land |
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| We have a 1977 moblie home on our own land. We added an addition after putting the mobile on concert pillers and strapping it (no foundation). Our home is basically a house now with all the updates and remodeling we've done over the last 28 years. We feel trapped because we cannot get a lender to finance it. If we wanted to sale it where would a potential buyer get a loan. Is our home worth anything when we can't get a home equity loan either? |
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joyce williamson
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0.10 Dollars($)
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Post subject: mobile home refinance |
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| i only owe 20,500 balance on my mobile home loan. I am currently paying 7.783 interest. I would like to refinance at a lower rate and pay it off in 5 years as I was layed off at the end of January 2009. I am 69 years old and collecting social security. |
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Paulette Thomason
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0.10 Dollars($)
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Post subject: Loan for a Mobile Home in an established Senior community |
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Loan for a Mobile Home in an established Senior community - could we fill out an application to see if we qualify? 530-622-2019
frednpaulette@ comcast.net
Thanks for Your Help! |
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i c y u n v me
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0.10 Dollars($)
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Post subject: refinance double-wide leased land |
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my credit score is around 600 the house is in my ex-husband and my name we are divorced i have been making payments since 2000. could i refinance in just my name only.
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
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DENISE WILLIAMS
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0.10 Dollars($)
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Post subject: REFINANCE |
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| REFINANCE DOUBLE-WIDE ON LEASE LAND IN MY NAME ONLY WITH CASH OUT |
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