options are available for us? We don’t have a down payment (we might could come up w/ 00 before closing). We didn’t think we’d find the property so soon….and it’s too good to pass up. Our offer has already been accepted on the property.
We need to finance more money than the cost of the land, to pay for expenses such as setting it up on a permanent foundation, clearing the land, new (log) siding, installing the septic, etc.
Most land loan places will only do 15 or 20 yr. financing. We need 30yr. to get the payments low enough. We only owe 18yrs. left on the home (it is a 2004 model) and would really like NOT to have to refinance it. If we had to refinance the whole thing to make this work we would. Most places also do not want to deal with mobile homes because of the stigma and stereotypes placed on them. We are not rednecks….we both have good paying jobs. Our house does not look like a mobile home on the inside and once we put log siding on the outside, it will look better than any other stick built home around the block.
I don’t think I left anything out. What would our options be? How do we get past this stereotype?
added…we bought the home new in 2004. It was refinanced 2 years ago and is now on a 20 yr. mortgage. Right now, the house is on my husband’s parent’s property. We obviously want our own property. We could afford a 200,000 house somewhere, but we are pretty much stuck with the house being that we don’t own the land and would lose money if we sold just the house off of the property. It’s a great house though, so we’d love to just move it to the great property and be done with it. Easier said than done!
hybrid ……good article but we have great credit.

Technorati Tags: good paying jobs, land loan, log siding, love, mobile home, Mobile Homes, money, mortgage, stereotype, stereotypes, stigma

I bought the home in 1999, then joined the Navy in 2000. I couldn’t find anyone to buy it from me so I have someone living it right now, making the payments. It’s been like this for 8 years, but I am trying to figure out if I should refinance it so I can use it as a rental property (current contract won’t let me). I would like to make some money off of it. I don’t think it would sell for what I owe (just get it away from me) so I was trying to figure out if renting it would be a viable option. It isn’t on any land, it is in a trailer park. Any suggestions on what to do would help.

Technorati Tags: 8 years, money, navy, rental property, trailer park, viable option

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

My husband and I bought a manufactured home 4 years ago. The home is on a foundation, but of course the home is still movable. We want to keep the land that the home is currently on but have the home moved to another lot. After talking to a loan officer at the bank we have our mortgage through we had started making plans to build a home on the lot that the home is still on. The loan officer indicated all we need to do was refinance the home onto the other lot to release the lean on the property that the home is currently on. However, after finding a buyer for the home(once it was moved) ,finding a contractor to build our new home, buying blue prints, getting approved for the construction loan, and having all the people needed to move the manufactured home and pour footers and build the block ready to go, the same loan officer who told us all we had to do was refinance said oops she was wrong the mortgage has to be paid in full before the home can be moved. We are devastated and are still trying to make this happen. If a bank would let someone finance the home and lot based on what the home would appraise for after it is moved and set up, we could pay off the mortgage. The problem is I cant find any bank who is financing mobile homes . If anyone has any suggestions or ideas on how this could possibly work. I would very much appreciate any help.
I dont want to build on the other lot. I live next door to my grandmother and I want and need to be close to her. Also we purchased the other lot with the sole purpose of moving the home on it. I wouldnt want to build there. Also I have all the money needed to move the home and build the foundation (8000$) and we would pay for that not the buyer!!

Technorati Tags: blue prints, construction loan, grandmother, loan officer, manufactured home, Mobile Homes, money, mortgage, sole purpose

I took out a HELOC for a property investment at the exact wrong time. My investment property still has not sold in a year and a half, meanwhile my HELOC is at full capacity and I am/have been paying interest on it the whole time. Now I have run out of money, should I offer owner financing and how do I go about it?

Technorati Tags: heloc, investment property, money, owner financing, property investment, whole time, wrong time

4 years ago I bought my home. At closing, the company I purchased it from contacted me to tell me not to be suprised as I was going to be asked to sign a 2nd mortgage. I was told "this is not a real 2nd, but only on paper as the mortgage company will not fund without the 2nd". This is due to the home being a manufactured home on an acre of land which finance companies do not feel are solid investments as too many people foreclose on them and thus they can only fund 75% of appraised value.

So, it was done and no, I haven't been aske to pay a dime. Now, I am trying to refinance, and the former company is stating they will not sign off on the 2nd but they will reduce it by ,000.00 which the mortgage company says No way. The mortgage company has had dealings with this company before and states it is a shady company.

Now the mortgage company is taking 7 months to close, my ARM is going up to 0 Sept. 1st and I am working my hind end off to make ends meet.
Should I wait to see what mortgage company will do or seek legal assistance?
Do I have a case? The second has only my signature and the company's name but not the owner of the company who is stating this money is owed after 4 years.

Technorati Tags: 7 months, acre of land, finance companies, hind end, investments, legal assistance, manufactured home, money, mortgage company, signature

We were financed for our modular three years ago. We would love to buy a home that is not a trailer. We have no money to put down, take over payments would be great.Do we still qualify as first time buyers?

Technorati Tags: first time buyers, money

Years ago my husband and I purchased a manufactured home- at the time I was naive, thinking that at least it would be money we wouldn't be throwing away on rent. Now here we are, 9 years later, paying high interest and only per month comes off the principal! I received information from an insitution which specializes in manufactured homes- I filled out an application, and now I am told that even though 1. Our Credit is Stellar, and 2. Our income is just perfect, they will NOT finance us since our home is worth less than we owe. So now what?!?!?!? Our local banker believes they set our monthly payment to low, and that is why we aren't paying down our principal. Our monthly payment is what we can handle, I can't really afford to pay more each month.We own land that we could move the home on, would that make it more valuable so we could refinance? Any tips from those of you who have similar problems or a background in refinancing? Thank you In advance!
We own a single-wide Wick home, it is a 1999, we ordered it brand new. Hope this may help….

Technorati Tags: brand new hope, high interest, manufactured home, manufactured homes, money, refinancing, wick

We recently owner financed a mobile home & we have decided we want to move it & the people we are buying it from says we cant do that. So now are option is to refinance in our own name so we can move it. I cannot find anywheres that will finance a 99 single wide. Our credit is under a 600 but we have money to put down. So does anyone know of a place?

Technorati Tags: anywheres, mobile home, money

My interest rate is 17.5% and my mortgage payment and lot rent is so hard to keep up with. I have never been 30 days late. But I don't want the house anymore and really don't care about my credit either. Does anyone know what will happen if I just stop making the payments and let the house go into foreclosure? If my husband and I both have jobs paying us under the table, will they be able to garnish our wages still? Any advice would help. Like I said i don't want the house, it depreciates it value, and I owe about ,000 more than it is actually worth, so there is no sense in selling it or refinancing because no one will buy something that isn't worh the money they have to pay for it.
Trust me, I know about my credit. I work in the mortgage industry. And I can't help myself get a better loan. I owe ,000 on this house, and after FIVE YEARS, I still owe ,000. It is only worthg maybe ,000. How can I sell this house? There are 30 or so homes in the community that are for sale. They are bigger, look better, and are selling for a lot less. Like I said, I have never been 30 days late thinking I can save my credit, but I give up and will seek help from family members with getting into another house. I know about still having to owe the difference, but if I have no money they can't take it from me right?

Technorati Tags: family members, foreclosure, interest rate, jobs, money, mortgage industry, mortgage payment, wages

I financed a home, with a Modular home dealer, in the process of finishing the home the dealer's finisher replaced a leaking water valve. overnight the valve blew off flooding the whole house.
next the dealer had a restoration company out drying floors and tearing out tile (vct) after the dry out they wer told to replaced the under belly with all new insulation and hard board. they did there job. then the dealer sends out there tile man, Now i get informed that all this is being claimed in my name with the insurance company, Now all the checks came to me and in and the finace company name. The money that came in was way over the cost of the repair. The restoration company had gave me a copy of the bill I was told to sign these checks and send them on to the finace company, or else they would try and take my land and forclose on me. Now this is all way before I had even signed the Note .
how do I find out where the rest of the Money went.
It defently was not applied to my Morgage

Technorati Tags: checks, forclose, insulation, insurance, insurance company, job, modular home, money, morgage, restoration company, tile man, vct, water valve

My husband and I bought a manufactured home back in 2001. Unfortunately, we were very inexperienced and did not understand that having money down at closing was so important. At the time, we also had bad credit, but the dealer was determined to sign us. We ended up buying down 7 points and rolling it into the cost of the loan along with the other closing costs in order to lower our interest rate into something we could afford. It was lowered from 12.5% to 10.75%. We have always made timely payments for the last 6 years, but would like to refinance to get the incredibly high interest rate down. Our current lender says that 10.75% is their lowest rate, and our credit union won't finance due to the negative equity. The house is appraised at ,000 and we still owe ,000 on the loan. I've heard that there are loans available for 125% of a home's value, but not if it's manufactured. Does anyone know of any alternatives or have any useful suggestions to help us?
Also, just to clarify, the house is attached to a permanent foundation on a piece of land that my husband and I own.

Technorati Tags: 6 years, bad credit, closing costs, finance, high interest rate, loans, manufactured home, money, negative equity, timely payments