Posted on: 04th May, 2009 07:18 am
My manufactured home is valued at $30,000, in perfect condition and we own it outright. Need to borrow $10,000 to get out of debt (husband finally went back to work after 3 years, so I've tried to keep up, but can't). Low credit scores, but all would improve if we could catch up & get on track. HELP!
Hi mammacat,
If your moile home is currently appraised at $30,000, I think you should be able to get a loan of $10,000. But you have mentioned you have a low credit score. Can you tell us what exactly your credit score and debt to income ratios are?
If your moile home is currently appraised at $30,000, I think you should be able to get a loan of $10,000. But you have mentioned you have a low credit score. Can you tell us what exactly your credit score and debt to income ratios are?
Thanks for your quick reply! I'm ashamed to admit my credit score is 539 and my husband's is 525. Debt to income ratio is approximately 60:40 or thereabouts.
Forgot to mention - my manufactured home is in a park, so I don't own the land. Reviewed my situation and could work with a $7500 loan.
There are lot of websites where you can look for loans from individuals.
Example www.zopa.com
Where each person contributes some money towards your loan. But at a little higher interest rate.
Try it out.
Example www.zopa.com
Where each person contributes some money towards your loan. But at a little higher interest rate.
Try it out.
Thanks for the info! I'll check it out.
No problem. Happy to help you.