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soltx81
Joined: 19 Oct 2009
Posts: 1
1.20 Dollars($)
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Post subject: Refinancing Mobile Home |
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| I am concerned about the current lender my dad has. He was financed through a company a texas and then a few months later his loan got bought out by GreenTree. I've researched the company and have seen many complaints registered against them. They have been harassing him about payments even though he's making them on time and have raised his monthly payment about $94 dollars more a month with little explanation. He feels concerned but I'm not sure his credit is good enough to refinance. What could he do? |
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SharNo1@aol.com
Guest
0.10 Dollars($)
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Post subject: Purchase Mobil Home with Land |
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| I would like to purchase a mobile home with land, and have located one that I am very interested in, would like someone to contact me at my email address listed above. Thank you. Sharon |
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savior70
Joined: 25 Mar 2009
Posts: 1899
Location: Florida
261.84 Dollars($)
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Post subject: |
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To Sharon,
You haven't mentioned what amount of loan you're looking at? What is your credit score? Do you want an FHA loan or a conventional loan?
You can seek a no-obligation free mortgage consultation with the lenders in this community. If you have good credit and sufficient income to qualify for the loan, the lenders will get in touch with you for a personalized consultation. They will then be able to offer you suggestions on the kind of loan that will suit your requirements.
To soltx,
It's strange that the mortgage company is harassing your dad even though he's been making the payments on time. As far as the increase in the mortgage payment is concerned, he must ask for an explanation from the lender. As a borrower, he definitely has the right to seek explanation from the lender as to why they've increased the payments. It is possible that the property taxes has gone up, which has increased the mortgage payments. But still, he ought to know the reason for this sudden increase in the payments. As far as getting rid of this lender is concerned, he'll have to refinance the loan. |
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Dan Reeves
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0.10 Dollars($)
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Post subject: Repo homes |
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| Do you have any homes for sale in georgia that have been repoed |
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jenkin7
Joined: 04 Jun 2007
Posts: 4540
Location: Hawaii
728.42 Dollars($)
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Hi Dan,
If you have been trying to purchase a repossessed home in Georgia, you can check out websites that give you free access to the list of such homes in a particular area. Such sites give you full details of the listed repossessed properties which will help you know how you can go about purchasing the property. |
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spider04988@yahoo.com
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0.10 Dollars($)
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Post subject: mobile home home equity loan? |
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| I need one for 20,000 ,want to pay off existing loan for 8,ooo which will free up 8,000 of my money on a secured loan ,Who can help me with this |
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savior70
Joined: 25 Mar 2009
Posts: 1899
Location: Florida
261.84 Dollars($)
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Post subject: |
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Hi,
You can surely get a mobile home equity loan if there's enough equity in the property and the home is in good condition. You also need to have decent credit scores and income to qualify for the loan. You may seek a no obligation free mortgage quote from the community lenders. If you qualify for the equity loan and your property meets the eligibility requirements, they will get in touch with you and offer you free mortgage quotes. |
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Kris
Guest
0.10 Dollars($)
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Post subject: 1975 in great shape |
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| Hi I have a 1975 moile home double wide in excellant condition i have a chance to buy under apraised value and i have 20% down is there finacing for me? anywhere help |
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ed m
Guest
0.10 Dollars($)
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Post subject: manufactured home non owner occupied mortgages |
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| where can I get one? |
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kiwi
Guest
0.10 Dollars($)
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Post subject: manufactured home |
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| Hello. I am trying to buy this manufactured home on 2 acres of property. My credit score is fair at 635 but I have no credit cards just 1 target card. I am finding it difficult to get a loan for a manufactured home. The home was built in 1996 and has a permanent foundation. Is it possible to find a lender who will give me a loan with only 3-5% down payment? The cost of the home and property its on is $75,000. If I can't get a loan for the manufactured home, would it be possible to just get a loan for the land it sits on instead? I need some advice! Thanks! |
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Mark Rudeseal
Guest
0.10 Dollars($)
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Post subject: lower interest rate |
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| I feel like Iam backing up . Ihave been paying for 16 years and still owe 25,000 on an original 26,000 loan PLEASE HELP !!!!!!!!!!!! |
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jenkin7
Joined: 04 Jun 2007
Posts: 4540
Location: Hawaii
728.42 Dollars($)
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Post subject: |
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Hi Mark,
It seems the mortgage is an interest only loan. You had so far been paying only the interest. Your payments were not applied to the principal balance of the loan. During the interest only period, the original loan balance remains unchanged. At the end of the interest only period, the loan is amortized and the payments you make are applied towards both the principal and interest. Check your mortgage documents and find out the interest only term on your loan. This will give you an idea about how long you have paid only interest and since when you have actually started making payments towards the principal.
Hi kiwi,
Your credit score is ok. But if you wish to put down 3-5%, I believe an FHA loan would be a good option for you. FHA offers Title I loan programs for purchase of both mobile homes and lands. The home has a permanent foundation, which is good. Now if it meets HUD specified property requirements, it will qualify for the FHA loan. You can contact any FHA approved local lender or you can go for a no-obligation free mortgage consultation with the lenders in this community. They will check your financial situation, your credit etc. and will let you know if you qualify for a mobile home loan to make the purchase. |
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savior70
Joined: 25 Mar 2009
Posts: 1899
Location: Florida
261.84 Dollars($)
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Post subject: |
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To Kris,
You will not be able to get financing for a mobile home built prior to 1976. These homes do not comply with HUD specified property standards and depreciate fast. This is why no lender would want to finance such old mobile homes.
To ed,
It is easier to find financing for mobile homes if you do not occupy the property as primary residence. But given your credit scores and income are good, there are lenders who can offer you mobile home loans. How good is your credit? How much do you want to borrow? What approximately is your income? |
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vickiewbiggers
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0.10 Dollars($)
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Post subject: |
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| What qualifies as a permanent foundation. |
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savior70
Joined: 25 Mar 2009
Posts: 1899
Location: Florida
261.84 Dollars($)
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Post subject: |
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Hi,
If the axles are removed and the home is fixed on the site it is said to be sitting on a permanent foundation. However there are other criteria which need to be fulfilled for the foundation to be considered permanent. You can check the page below to know more on permanent foundation:
"http://www.hud.gov/offices/adm/hudclips/guidebooks/4930.3G/index.cfm" |
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