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qickstudy922 · Joined: 04 Oct 2009 Posts: 1 1.35 Dollars($)

I have a car worth over $4,000 that I own and the mobile home that I wish to purchase, as near as I can figure out, is worth $8,500. I am on SSD and need housing. My monthly income, after Medicare and SSD, is $1,234. 20 free and clear. However, I have bad credit. What are my chances? I have lived in the same apartment for 9 years and was NEVER even late with my rent. Does that matter? I would need to borrow $5,000.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Ok

It is impossible to get a mortgage for $5000/-. Noe lnde will give you mortgage loan for that money,since the amoutn is too small and it is expensive to process that loan for the lender

You can go for a person loan or a pay ti by credit card

propertyinfo · Joined: 04 Oct 2009 Posts: 14 0.36 Dollars($)

wouldn't necessarily advise C. card unless you can get it paid off very fast. secured loan might be a better idea.

your bad credit will work against you, but your income will be the key driver. when you say $1234 free and clear, does this take is this after necessary living expenses like insurance, utilities, food etc?

For the amount of money you are looking to borrow (not much), you wouldn't think it would be too difficult, but you'll need to provide a compelling reason why your bad credit history won't repeat itself on this loan I think.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

property I am nto sure when the credit report is bad, there is any way you can convince the lender that how you will not defult on the new loan

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I would like a mobile home loan.