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Gave Mobile home back

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chanelj2003 Joined: 19 Feb 2011 Posts: 1 1.47 Dollars($)	Posted: Sat Feb 19, 2011 3:16 pm    Post subject: Gave Mobile home back Like 0 Dislike 0 We tryed everything to sell our mobile home and work with the lender. We tryed to get assistance to help. Nothing worked, because we did not own the land we were renting the lot. We gave the mobile home back to the leaders. It has been a year and it hasn't sold and I do not believe it will sell anytime soon. How does this affect us in the future? How are we going to get another home 3-4 years from now? Not sure what to do now.
brian1 Community Expert Joined: 14 Jun 2008 Posts: 448 Location: Northern California 15.61 Dollars($)	Posted: Sat Feb 19, 2011 6:44 pm    Post subject: Like 0 Dislike 0 How does it reflect on your credit report? _________________ Licensed Broker 50 states http://www.aimwithfocus.com Live Chat available Need quick advise email or PM Glad to help Pre-approvals www.applyonlinesecure.com
chanel Guest	Posted: Tue Feb 22, 2011 8:40 pm    Post subject: RE:Gave home back Like 0 Dislike 0 Last we checked in July the showed the account as open and past due 30 days even though we gave the home back in January. Not sure what it is now.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Feb 23, 2011 12:16 am    Post subject: Like 0 Dislike 0 Hi chanel! Welcome to forums! I guess the property has not been foreclosed yet. As a result the account is being showed as open. Feel free to ask if you've further queries. Sussane
Chanel Guest	Posted: Sat Feb 26, 2011 7:09 am    Post subject: Credit Like 0 Dislike 0 Well how does this effect our ability to purchase a home 3-4 years from now????
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Mon Feb 28, 2011 12:05 am    Post subject: Like 0 Dislike 0 Hi Chanel, After a foreclosure, you'll have to wait for 3-4 years in order to get a new mortgage. You should take steps in order to improve your score meanwhile and then apply for a mortgage. _________________ Procrastination is the enemy of your financial success
Chanel Guest	Posted: Wed Mar 02, 2011 5:48 am    Post subject: house Like 0 Dislike 0 We are improving our credit and saving for a down payment, but the house wasn't a foreclosure, but the account still remains open on our credit. So I don't know what the banks are going to say about that 3 years from now when we go to get a mortage.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Mar 03, 2011 12:09 am    Post subject: Like 0 Dislike 0 Welcome Chanel, Unless you sell off your exiting house and pay off the mortgage, you won't be able to qualify for a new mortgage. So, you should list the property in the market in order to sell off the property. _________________ Procrastination is the enemy of your financial success
Chanel Guest	Posted: Thu Mar 03, 2011 6:54 am    Post subject: house Like 0 Dislike 0 Ok the house has been up for sell for about 3 years. We didn't own the land just the mobile home. The mortage company has it for sell now. If it doesn't sell then what? What can we do to ensure we can get a home 3-4 years from now?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Fri Mar 04, 2011 12:06 am    Post subject: Like 0 Dislike 0 Hi Chanel! Welcome to forums! You should ask the lender to sell off the property asap. After the property is sold off, then you need to wait for 3-4 years in order to qualify for a mortgage. Feel free to ask if you've further queries. Sussane

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