Compare Mortgage Quotes

Guest

we just bought a house, and i still have a mobile home that i am still paying on. i have been paying for this mobile home for the past 6 months while making payments on our new home. we have been unsuccessful selling this mobile home. how will it affect my credit. i have good credit now, but i cannot see me being able to keep paying on it after the first of the year. if i call the lender will they come repossess it. it is financed through greentree. i cannot make 2 house payments much longer. i need some advice on what to do. i owe 17k on it and it is not worth that. what do i do?

smckaybiz · Posted: Wed Nov 11, 2009 7:35 pm Post subject:

Welcome to the forums johnny,

It sounds like you're in the same boat that many people find themselves in right now. Is there any chance you could find someone to rent the mobile home to? Another option would be to list the mobile home for sale by article of agreement. This way you may be able to find someone who is interested but just doesn't have the credit to take their own loan out for it.

Best of luck to you!

Guest

the thing is that the mobile home is on my mother in laws place. she does want anyone to move in next door to her. i am willing to pay to have it moved if someone will make payments on it. there is not anyone out there so far. What does article by agreement mean? i just dont want to get sued for what i owe on it. i am planning on calling them within the next few days.

jenkin7 · Posted: Thu Nov 12, 2009 2:12 am Post subject:

Hi johnnyr,

As far as I know, an article of agreement actually refers to a land contract. It is a private contract which allows the buyers to get title to the property, once the terms of the contract are met. It is useful for buyer who does not have good credit to qualify for a home loan. The buyers will make a monthly payment which the seller can use to pay monthly mortgage payments. After a certain period of time, the buyer can refinance the property and take over the full ownership of the house.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

help