The Manufactured Home is not payed for yet but the residential home and property the Manufactured Home sits on are. The problem is, the Manufactured home has increased the property taxes even though the residential home is a homestead exemption. This is in Texas. The Manufactured Home was bought 10 years ago, new, only under the condition the property it was put on was paid off… which it was… but what happens if you tell the people who initially financed the Manufactured Home to come and repossess it? Can they,or will they, put a lien on the "paid off residential home" and property? Can the company financing the Manufactured Home foreclose on the Manufactured Home, property, AND the paid-off Residential Home if they are asked to repossess the Manufactured Home? I don’t understand how the Homestead Exemption works in Texas. I am under the impression that normally liens can’t be put on Homestead Exemption property but when it comes to a Manufactured Home, the laws/rules may be different. And the paid-off residential home is still in the husband’s name, who’s deceased, and the Manufactured Home was financed in the widow’s name years after he passed away. But the residential home is still in the deceased husband’s name instead of being in the widow’s name. The company financing the manufactured home also say the Manufactured Home MUST stay at it’s present location to be financed. The Property Taxes are paid up as well as the payments on the Manufactured Home at the moment. Nothing is in default. Just wondering about the options.

So, it’s pretty confusing…
By the way, Texas is a community property state, if it matters…
The hitch to hall the Manufactured Home is still attached. As far as I know, they only removed the rubber tires. But the plumbing and electricity are hooked up to live in it, with a "permanent" electric pole beside it.

Technorati Tags: 10 years, community property state, deceased husband, electricity, foreclose, homestead exemption, manufactured home, plumbing, property taxes, quot, rubber tires, tires

They have never lived here. I am the only occupant who has ever lived here for almost 10 years. Is there any way of transferring ownership of the home and the property to me without raising red flags or getting murdered by taxes? I want to be able to get a home equity loan to purchase the property, do some home improvements and debt consolidations but it needs to be in my name. Any suggestions??
Um, the reason is because we haven’t done anything about it….we are trying to figure out the best way to go about it with the least amount of tax consequences. There’s no hidden agenda…

Technorati Tags: 10 years, debt consolidations, hidden agenda, home equity loan, home improvements, occupant, red flags, tax consequences

We live in a "park" in Oregon and do not own the land, we rent it and most are closing as land prices have skyrocketed. There is no equity in the home as banks will not loan on it so it is impossible to sell, costs k to move and set up on property that I do not have the $$ to spend on. If I had to I would let it go back to the bank but would rather just give it to him as it is not worth anything anyway. Homes sold for 5-0 new and now maybe if one gets lucky to sell. My house is about 10 years old. Most people are letting them go back to the bank. But I heard the laws have changed with regard to that. I would rather just sign a quit claim deed IF it will absolve me of the debt. Was a bad investment obviously. My almost ex is 70 years old and if he dies would I be responsible for the debt? I am 50+ and dont want to have debt following me around the rest of my life. Is this possible for me?

Technorati Tags: 10 years, banks, claim deed, quot, regard, rest of my life

They have never lived here. I am the only occupant who has ever lived here for almost 10 years. Is there any way of transferring ownership to me without raising red flags or getting murdered by taxes? I want to be able to get a home equity loan to purchase the property, do some home improvements and debt consolidations but it needs to be in my name. Any suggestions??

Technorati Tags: 10 years, debt consolidations, home equity loan, home improvements, occupant, red flags

We purchased a new mobile home 9 years ago. At that time, we financed approx. ,000, a 30-year mortage, with the fixed interest rate of 9.25%. Our montly payment is only 0. Here it is, nearly 10 years later, we still owe ,000 and no bank will refinance because they say the home is not worth it. SO, I’ve been making add’l payments, usually about an extra a month. My question is, when I apply that add’l pymt. (which is on a separate check and indicates "add’l principal") why does nearly all of my initial 0 pymt. go to interest?
If I only make my 0 payment, more goes towards the principal. I’m not making headway either way it seems. I don’t understand this. We were young & naive when we bought this home, and now we’re stuck.
Currently we do not own the land it is on, but we do own 6 acres that we plan to move the home onto. Would this qualify me for a FHA loan then?

Technorati Tags: 10 years, amp, fha loan, fixed interest, headway, interest rate, mobile home, mortage, pymt

i went into a deal with a lady that i guess she refinanced a mobile home ,the loan amount is 26,000 at 300 a month ,the home is 10 years old and in very bad shape and i am reconsidering this cause 26 thousand is a lot of money and i think the payments will last longer than the home what should i do and on the bill it says {this is not the total amount to pay off your loan answer me please

Technorati Tags: 10 years, bad shape, mobile home, money

I am purchasing a peice of property and a modular home that is not new, it is maybe 10 years old. I am doing the whole owner finance/contract for deed deal so I am having to pay 120,000 for the place. I think it is worth less. But hey, that is what bad credit gets you. Anyway he said I would have to buy homeowners insurance and I asked how much and he said 120,000. This home itself without the land especially is not where near worth 120,000!!!! Why would I need that much? And if something happened to home would it be right for insurance company to pay 120,000 for a 10 year old modular home. May be even a little older for all I know but it is not 120,000!!!! What is the minumum that I should get? I don’t have much money and never had homeowner’s insurance.
It is not being loaned on by a bank. The owner is financing it to us.
Waiting to repair our credit really is not an option because we live in a 2 bedroom mobile home with a 4, 3, and 1 year old. We live in the ghetto of a small town in a trailer park. I have to get out of here NOW!!!! It is not safe.

Technorati Tags: 10 years, bad credit, ghetto, homeowners insurance, insurance, insurance company, minumum, mobile home, modular home, much money, owner finance contract, peice, trailer park

OK my fiance and I bought a little ranch house about 4 years ago. W now want to buy some land near my parents in Pa and put a brand new modular home on it!!! The problem is all these companies keep telling us they cant finance mobile homes, but i've researched it and and ther is a difference between Mobile and modular!!! in fact my sister and her husband bought a beautifull cape modular home about 10 years ago and it is considered a house, Her home even went WAY up in value. im getting very dicouraged!!!! What is the problem???? These modular homes are beautiful it seems stupid to stick build when these new modulars are available. what should i do? Am I getting screwed over by these finance companies or what?

Technorati Tags: 10 years, beautifull, fiance, finance companies, little ranch, Mobile Homes, modular home, Modular Homes, modulars, parents, ranch house