We own a 1998 double wide on a crawl space with half an acre of land free and clear, and need to borrow around ,000 on it. Are there any banks that would offer a home equity loan on it? Or what about a refinance? I don’t want to have to pay a ton of closing costs on 000.
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The conservative line has been that the big bad Democrats forced banks to give bad loans which led to the housing bubble bursting. However I beg to differ. I think that the economy was so sick, that the Bush Administration saw housing as a form of artificial life support, that since we don’t actually manufacture things anymore, everything would be okay if we just kept people building houses which no one would have the money to buy. It produced false "economic growth" for a couple of years, but sooner or later that strategy’s going to catch up to you, as it did last year.
Just to show that there was no conservative opposition to no money, no income loans, check out this news story from 2004.
http://www.cnn.com/2004/ALLPOLITICS/03/26/bush.homes/index.html
oops I meant "rein in"
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My fiance and I found a place on almost 3 acres and they’re not even asking 70,000 for it! His credit isn’t bad, but it’s not the best and mine is not even worth trying. The banks won’t even touch it and I was wondering if anyone knew of a company that will do an FHA loan on the house. He’s planning on putting a down payment as well.
It was built in 2002. If we can’t do the FHA loan, then what would be the best way to go?
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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?
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If we are purchasing a home through owner financing (manufactured home), would we still qualify for the credit? We’re not going through any banks, we’d be purchasing the home but financing through the owner instead of a bank. Our income qualifies for it, but I don’t know if this situation qualifies us.
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I purchased an older home through a large realestate company under the representasion that it was a boca built modular. Two and a half years later i went to sell it and the appraiser said it is not a boca modular but a hud manufactured.(doublewide) Making it almost imposible to sell since banks will not finance a manufactured home this old. The realestate ad from when i purchased has boca modular right under the features listing. The realtor even told us it took some doing but they proved it was a modular. (a claim they cant remember now how they proved) Can i sue the realtor for the value difference between a modular and a manufactured?
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OK…so the home stimulus package helped the banks, but not me. I am looking for a manufactured home loan of ,000. I am VA eligible and make close to 00 a month. But because there was a late payment on a credit card a few months ago, everybody says no. I think that the stimulus package sucks and there is no way to help the working people of the US. Can anybody help??
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OK…so the home stimulus package helped the banks, but not me. I am looking for a manufactured home loan of ,000. I am VA eligible and make close to 00 a month. But because there was a late payment on a credit card a few months ago, everybody says no. I think that the stimulus package sucks and there is no way to help the working people of the US. Can anybody help??
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I want to buy a manufactured home and put it on land that I own. Where can I find someone to finance such a venture? The banks that I’ve tried won’t touch it.
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My husband & I are trying to get a loan for a 2002 manufactured home on 2 acres for ,900 in MS. We can put 10% down on the loan. We have been in the same apt for 7yrs. Will that count for anything? Both our scores are below 500 but we both have good paying jobs that we have been at a long time. Can anyone help?
We have tried the our local banks we were denied.
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I have a friend going through a financial disaster and she needs your help. She is on disability, going through a divorce (her husband just left her high & dry for a younger woman), and is overwhelmed by her debt. She has a mortgage on a trailer in a trailer park with a 13.5% interest rate. She fits the criteria set forth by the Obama Administration her monthly payment is over 38% of her income. She has contacted many banking institutes inquiring about loan modification or refinancing. The banks all have said the same thing to her that since her home is in a trailer park she can not reorganize her loan (a mobile home in a park is not considered real estate). To me this is an outrage. It’s not like she can move her house it has no axles and is a doublewide; moving it is not an option for her. Just because her socio-economic status is low and she was forced by the state laws to put her trailer in a trailer park (you can’t have a mobile home on land where we live) she is being punished by investors. Is there any help for low-class individuals who find themselves in trouble with a mortgage on a trailer in a trailer park? Any suggestions I can give her? She’s such a nice older lady, I’d love to be able to help her. Thanks a lot.
Northpoint lending will not finance anything inside a park.
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Have been looking for the serial numbers for a manufactured home that I am buying. The inside one was removed and so was outside one when the home was remodelled. Without going underneath the house can I find out what those numbers are?
I have called Division of motor vehicles, the manufacuturer, the register of deeds, the banks where the home was financed by previous owners, etc. We do not have a title because it is being sold as real property, cannot find the previous owners information and he is uncooperative due to foreclosure.
thanks for help.
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I have a 1994 mobile home on a big corner lot in PA. The mobile is anchored to a permanent cement slab and the axels and tires were pulled. There is now an addition so it looks more like modular, double wide,, not sure of the correct wording. The land and the home are both paid in full. My credit is fair. As soon as they hear "mobile" the conversation is over. Am i looking too the wrong lenders? Why will they not give me a loan and use my home as collateral? The property is worth about 78,000 and I only want to borrow 28,000. Banks will finance them when they are bought from dealers so why is this different? I really need to figure this out and find someone who can quote me terms w/o wasting each others time. The property is also paid in full. I have a land deed for that and a title for the mobile home. Can i change the title to a home deed? Good luck with this one,, I appreciate ur input.
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