I have a two year degree in Busniness.I have managed a furniture store for 3 years and was a district manager for 5 years with a Movie Rental company.I currently work in a manufacturing plant as a tool buyer.Yeah, ive done it all.Since buying my home and speaking with my Loan officer, the business has always caught my eye.Retail is not for me.I love people and dealing with day to day challenges.I live in Houston tx which has the cheapest realestate Ive ever seen.I think this could be a doorway but dont want to jump in head first.I would rather here from other professionals who have made the change.The good and bad is what I am looking to hear.I welcome anyone with any knowledge about the industry to post comments.Thanks for your time

Technorati Tags: 3 years, challenges, doorway, furniture store, houston tx, loan officer, manufacturing plant, realestate, thanks for your time, tool buyer

We have been working on a loan to put a new manufactured home on our property. The appraisal came in ,000 more than the loan amount. The broker called yesterday to say that the underwriter denied the loan because of what they saw going in and out of our checking account. My husband is a seasonal worker and the bank statements were from the period he was not working. If you use our annual income to determine our average monthly income, then our debt to income ratio is 25% before the loan (I am including child support payments in this). We realize that we will need to put money in savings for the house payment when he is working to pay the payment when he is not. We have the money to do that. We had 4000 extra dollars after paying our bills this month.
Anyway, the broker didn’t agree with the underwriters decision. He asked us for more bank statements and also something in writing about our plan to pay the payment in the off season. Should I give up that this is going to go through or can the underwriter change his mind?
For Jim…
How is the appraisal value relevant to your problem? I thought that ,000 in equity before even signing would be a plus.

What did the underwriter see going in and out of your checking account? After seeing what went into the checking account and what went out, there wasn’t enough money left to make the house payment which would be true because we weren’t needing to have money left for a house payment.

Is your husband currently not working? He went back to work in July and got his first check August 1st.

If he is currently working why did you provide a bank statement from when he wasn’t working? It went to underwriting the day he got his first paycheck, August 1st, but the current bank statement only goes to July 20th.

If he is not currently working, when does he go back to work? N/A

Do you receive the child support income for at least the next 3 years? The child support is an expense, not income and she will be 18 in April so I believe the payments will end then.

Do

Technorati Tags: 3 years, appraisal value, august 1st, bank statements, checking account, child support income, child support payments, debt to income ratio, enough money, manufactured home, paycheck, seasonal worker, underwriter, underwriters

Hello, I am 20 y/o male who just graduated from A school. I have a AA in Sociology.

I am roughly spending 4 to 5 years on Active duty.
I have no credit history or debt, prior to joining the military.
I do want to receive a B.A. Degree where ever I am aloud to.
As soon as possible I would like to buy a home/condo/manufactured/mobile.

I have a vehicle back home that neither me or my parents have use for. valued at around ,000

I was wondering If I save about ,000-,000 and with good credit would I be able to get approved loan to buy a (The cheapest housing) home/condo/manufactured.ect.
Within the next 2 or 3 years?
I am thinking more of an investment around priced around 90-120k in the Southwestern states.

Not a home I would live in.

Technorati Tags: 3 years, aa, active duty, credit history, parents, sociology, southwestern states

I BOUGHT THE MOBILE HOME 3 YEARS AGO BECAUSE THE OLD ONE WAS FALLING APART. I AM A WIDOW AND LIVE ALONE. I CAN NOT DO THE UPKEEP ON THE HOUSE OR REPAIR THE THINGS THAT NEED FIXED BECAUSE I AM NOT PHYSICALLY ABLE TO DO SO. THE STEPS THAT THE MOBILE HOME PEOPLE PUT UP ARE HIGH AND NEARLY IMPOSSIBLE FOR ME TO GET UP ANYMORE. I HAVE NO BACK STEPS AT ALL. I LEFT ALL THE CAPS ON BECAUSE MY VISION IS GOING AND I CAN SEE THE BIG PRINT BETTER. I AM NOT YELLING OR FUSSING. I JUST NEED HELP.

Technorati Tags: 3 years, back steps, caps, mobile home, upkeep

I own land, with a tax value of 35k. I cash purchased a single wide manufactured home, and installed a septic.
I’ve been renting for 5 years and doing this slowly. Recently was laid off and my new job has my income drastically lowered. So now I need to get this single wide set up on a permanent foundation and have a well drilled, so I will have permanent housing. I’m out of cash to do this myself.

What type of loan should I apply for ? I have searched a rural development loan, but it states I must be unable to secure financing from another lender. I have yet to apply anywhere else because I’m unsure what loan to apply for. I don’t want to apply for multiple loans and lower my credit score.

I have budgeted to finance between 15-20k

My credit history is 3 years old, with a car loan paid, revolving new car loan and a credit card.
My new job is in the same field, which I’ve been in for 7 years. I have been on this new job for 3 months. I was laid off for 3 months before finding this new job.

Technorati Tags: 3 years, credit card, credit history, credit score, development loan, loans, manufactured home, new car loan, new job, rural development

I am not sure how I will handle this situation regarding possible taxes (capital gains?) that I may have to pay, (or not). What happened is: my mother had a manufactured home she bought for cash (0k) about 3 years ago. About 2 years ago we transfered the home into my name (removing mother’s name from house) because we knew she’d have to go into a nursing home somewhere down the road. This past summer in Aug ‘08 she finally had to go into a nursing home (she has alzheimers which was slowly getting worse). Now I have the empty house in my name which I need to sell soon. I will only be able to get about k for it now with market drops this past year. My question: Once I sell the home and get the proceeds, will that be reported to the IRS and will I have to pay any kind of short term or long term capital gains, or any other type of taxes, on the sale of this property – considering the time frames are fairly short, for example its only been in my name for about a year. Thanks to any tax/finance experts who can help me with answer this question (or anyone who’s been in the same situation).

Technorati Tags: 3 years, alzheimers, finance, irs, long term capital, long term capital gains, manufactured home, nursing home, proceeds, time frames

The home is in my fathers name, he moved out into a mobile home and left me and my husband to live in the house. We have been paying the mortgage directly to the mortgage co for the past 3 years. Recently we were going to see if we could by the house. I was told that it would be easier and cheeper to refinance and get it into our name. All we had to do was prove that we were paying the mortgage pymt directly to the lender for the past year. We have this documentation. Is this true. Was wondering if anyone has ever heard of this and if it is really that easy.
I am in Illinois

Technorati Tags: 3 years, fathers name, mobile home, mortgage co

Ok, I’m in the market for a brand new double wide and I’m wondering how much is too much and what is considered too cheap (low quality). I know it varies by options, size, etc. but I’m looking for a sampling of what people actually have been paying so that I know I’m not getting ripped off. I’m looking for people to answer that have bought them brand new within the last 5 years.

What is the size of your home? Dimensions, How many BR/BA?

Who is the manufacturer?

What year did you buy your home?

What was the sticker price of the home by itself?

Were you able to talk the dealer down on the price? If so, how much?

Did you have to pay to have a site readied? If so, how much? How much for septic, utilities, clearing the land, etc.?

If you did land/home financing, how much was your land and how big is it?

What was the total amount of your loan?

How much did you put down?

Can you itemize what all is included in your loan and how much for what?

Have you had any problems with your home since you bought it? If so, did your warranty cover it?

On a scale of 1-10 how satisfied are you with your home?

Anything else you care to share about your experience?
I did look at used ones at first. The ones around here are going for (and selling for believe it or not) 0k and more. A single wide on 1.5 acres of land that was 3 years old sold for k. A double wide on 2 acres that was 4 years old was 0k. Site built houses around here are out of the question if you want something actually worth living in at a price you won’t have to sell your children for. A friend of mine just bought his first house, a 2 bedroom 1 bath, 900 sq. ft on a 1/2 acre for ,000. The dealer I spoke with quoted me k for a 32×62 installed with utilities and septic on an acre of land. When properly installed, they go up in value.

Technorati Tags: 3 years, acre of land, ba, first house, home financing, low quality, sampling, sq ft, sticker price, warranty

into a condo, It's a manufactured home and I refinanced 3 years ago would it be best to buy a condo or try to refinance My int is 9% I am really confused I am 65 yrs old everyone told me condo fees are horrible and can change anytime I owe a 79,000.00 Mortgage.PLEASE HELP

Technorati Tags: 3 years, manufactured home, mortgage