CLosing is next week.. What can still go wrong with the loan? What are the chances I wont get the house. P.S. supposedly it has to be reviewed by FHA Board or something due to it being a Manufactured home, but I think thats just for the House, not my income/credit stuff.
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I have a FHA refinanced (deed of trust) mortgage on a manufactured home in California, Due to cutbacks at my job I am not able to make the payments anymore. Can anyone tell me how to find out if my loan is non-judicial? Meaning how do I know for sure that the bank will not come after me if they are not able to recoup get the money owed on my loan.
What steps should I take to ensure I will not have to pay anything.
Thank you very much for your detailed answer, you have made me feel a little better about my situation.
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I can get one on a house,but I found a piece of land with a nice 16 wide modular home on it,through a realtor,she said it would be no trouble she would match me to a lender,for me to give her a refundable check towards down payment and unless I pull out I cannot lose it,she then said for me to be checking also,I tried everywhere I can think of..the home is 10 yrs old in great condition tied down and underpinned,and I plan to build a home on it later,it is the land I want most,can anybody help me find a lender,(tried va and fha and they are saying nothing available in this part ky now )
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This is a re-post as I don’t think my first question was clear enough.
I am trying to purchase an REO Manufactured home. I am approved FHA and paid for an inspection. The home is in VERY good condition for the price, but there are a couple of issues that MAY come up for the appraisal. If I have an appraisal done, and the bank that owns the property refuses to fix the items required to close, I have to pay the appraiser 0, so I’m trying to work this out before the appraiser goes in.
Is it unusual to word the from 35R as "seller must fix all items required by appraisal to close at sellers expense"? Is that an acceptable way to word it? The items that MAY become an issue would cost no more than k to fix, and I’d even be willing to reimburse 0 of it at closing. I don’t want to lose the house over 2k in repairs, but I also don’t want to put any more of my money on the line (already put 0 into this).
The seller has stated its an "as is" property, but I’m not asking for anything to be done that the appraiser wouldn’t require in order for it to be financed. And yes, the seller was made aware from day 1 that I’m an FHA buyer.
Any tips, suggestions, comments? Please state your source and thanks for the input.
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I own 8 acres of land a 2007 Singlewide mobile home that is combined in the same mortgage. Im interested in refinancing the home and the land for a better intrest rate. My current intrest rate is 7.5% fixed.
My home is FHA approved. My actual question is where can I find a lender willing to refinance the land and home in my area? (Stone County, Mississippi)
Notice most lenders wont touch a used mobile home.
What about the lands value? Doesn’t that help?
Thank you.
I owe 8,000.00 total.
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Ok heres the deal my parents credit isnt the best. They do have bankruptsy on their credit and deleinquit payments on the house. Right now they are up to date besides a couple late fees. My parents tried calling the Lend America that has to do with President Bushs new help the economy BS. Anyways they were going thru the process and a month later the guy calls my parents and tells them that they cant help because they live in a subsidised home ( manufactured home) So my question is does anyone know of a Mortgage company that works with people with less then perfect credit. I really want to help my parents but Im at my ends dont know what else to do. My parents are on an Arm rate right now and everytime the payment goes up its an extra 0 and they cant afford a 00 payment. There company their with now say they cant put it in a fix rate but wont tell them why. Im ready Im not sure what else to put in for information but if anyone can help I would sure appriciate it.
Also we live in michigan and the lend america say that FHA will not finance a Manufacured home. I know some people dont see a difference but its a Manufactured home not Mobil home.
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There is a home in PA that I like very much (on 10 acres of land). I just found out that it's modular. I was told that FHA does not finance modular homes(I was hoping to get the 3-5% down; the home & land asking price is 000). Do you know of any places that could make this happen? Credit score is low 600s and wife & I make 80k a year.
We make ,000/year the house is ,000. I don't think we make too little. Please read the question carefully.
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