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Mobile Home Repo- do lenders have the right to ask for down

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claudinebluejean Joined: 28 Jul 2008 Posts: 4 2.70 Dollars($)	Posted: Mon Jul 28, 2008 2:22 pm    Post subject: Mobile Home Repo- do lenders have the right to ask for down Like 0 Dislike 0 Our mobile home was repossessed and the lender is asking 10K down with $400 mthly/pymts, can they ask for a down payment?
ckalvesmaki Community Expert Joined: 28 Jan 2006 Posts: 378 Location: Dallas 56.51 Dollars($)	Posted: Mon Jul 28, 2008 4:26 pm    Post subject: Like 0 Dislike 0 sure they can.....you don't own the home anymore.......but if you have 10k to put down why not by a regular house? _________________ Cedric Kalvesmaki ***Professional Disclaimer*** While I am a Mortgage Professional, this advice is generic in nature only. 888-383-9019 emails and PMs gladly answered www.freedommortgagetexas.com Freedom Mortgage I live in TX but cover all 50 states
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Tue Jul 29, 2008 5:22 am    Post subject: Like 0 Dislike 0 Hi claudinebluejean. Welcome to the forum. Are you willing to buy the mobile home back from your lender? I think if you have 10K to pay the down payment then you can go for regular house as ckalvesmaki has also suggested above. BTW how much do you earn and how good is your credit score is? Best of luck, Larry
claudinebluejean Joined: 28 Jul 2008 Posts: 4 2.70 Dollars($)	Posted: Tue Jul 29, 2008 11:22 am    Post subject: Mobile Home Repo- do lenders have the right to ask for down Like 0 Dislike 0 I have remarried and he has a house in his name only. I don't have 10K, my ex and I have to come up with 5k each, they already sold the mobile home, we are paying on what was left over after they sold it, 50k! Never purchase a mobile home!

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