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

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

How did the government bailout to the finance institutions help the economy? What good does it do to throw money back into these institutions, when people are unable/unwilling to apply for a loan for anything!

I know I’m not a "brainiac", but wouldn’t it have made more sense to give that money to the tax payer? Isn’t it ultimately the tax payer that effects the economy? If we aren’t spending, manufacturing slows down/stops [i.e., the auto industry, the trailer industries]; if we aren’t spending because we can’t get a loan [i.e., foreclosure, judgments], why give all that money to lending institutions that are not loaning it back out?

Does no one else see the cause and effect here?

You give money to lending institutions that aren’t circulating the money; you give money to GM and Ford to produce a product that people can’t purchase, because the lending institutions aren’t lending…

Help me out here! I’m not looking for a handout. I don’t need to be rich, nor do I want to be. All I want is to be able to pay my bills on time, have some tucked back for emergencies, and some available for other necessary expenses. I honestly believe that is what most American people want.

Wouldn’t it make more sense to put it out there where it’s going to actually stimulate the economy?

Most people I know [myself included] would:

A. Pay their mortgage to current, or pay it off, which would keep people in their homes and stimulate the lending institutions.

B. Pay off any other outstanding debt incurred from this crisis [such as credit card debt], because we couldn’t afford to fill the tank plus feed the family.

C. Pay cash for a more economic vehicle, no matter what the price of gas is doing at the time being. We’ve learned a lesson here. That would have circulated the monies for the auto industries.

I’m not in any way looking for a handout. I, just like all tax payers, am dealing with this crisis the best way I can, which is going without the things I do not need.

I just wish I could understand how the government can justify these bailouts, when, in actuality, it isn’t going to be effective one way or the other until the middle class feel comfortable enough to start spending.

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Almost 2 years ago my inlaws had to go thru bankruptcy and lost their home. My husband and I took our entire savings and purchased the property adjacent to our home and then had a modular moved onto the property which is financed in our name. The problem is since then, my father in law lost his job and refuses to get another one unless "it pays what he needs". So needless to say they are alwyas late with the payment and we have had to make it several times ourselves. They are now making us out to be the bad guys because we have suggested that it may have to be put up for sale. We cannot continue to make 2 house payments. We have 3 kids and bills of our own. My mother in law speaks ill of us and when we try and talk to them about it she claims we are making her sugar go up or because of us adding stress to her life are going to cause he to get cancer. UUGGHH, I am lost as what to do???? Anyone have any answers?
I need to add that both my husband and I work. And my husband is less understanding of this situation than I am.

Technorati Tags: bad guys, bankruptcy, cancer, inlaws, job, mother in law, quot, several times, stress

My boyfriend and I are in the process of buying a home. We found a double wide trailer close to work in the city. (Not in a park. It is on its own acre of private land in city limits.) It sits on a permanent foundation with a crawlspace. The property is Very well maintained and landscaped. It also has a large front porch and patio. Honestly, you can not even tell its a trailer. It looks like one of those modular type homes. It has been recently built (within the last 3 years) and has top of line everything inside. Its over 1800 sq feet and beautiful inside and out. The current owner pays property tax and is hooked up to city water and sewer. It is in a very nice residential area. (New homes.) However, our real estate agent claims there is no way to get financing on a trailer because it will lose value. Right now it is valued over 100,000! Pretty good for a 3 year old trailer, I thought. My question is, Is there anybody in NC who has a similar property and got regular financing for it??
I also add that we have good credit and do qualify for a regular "stick built" home. Its just that our real estate agent said we can not get financing on mobile/modular homes. She claims it is because they have a higher foreclosure rate than a "stick built" and lose value quickly. It sounds strange to us since the mobile home is not movable or in a park. Also, since its selling/valued at 3 or 4 times the cost of an old single wide trailer. The price is that of a regular home. I'm just a bit confused because we are young first time home buyers. Thanks for any help you can offer!
M2, Thanks! It is on a permanent brick foundation. The "crawspace" is just under the back patio area. The seller is selling the land and trailer together but no lender we have talked to (5!) want to do a loan for a trailer. They all tell us to stick with a "stick built" home. They don't want to "risk" a trailer. Our real estate agent has already found us the "perfect house" to suit our needs so she doesn't want to check into finding trailer financing. Well, she claims she has and there are no options. It is just hard to believe that a home permanently attached to the land with a high resale value (for a trailor anyway, 9,758) can't be financed! We checked and it has never been a "moveable" trailer aside from when it was brought from the factory to the land site and attached to the foundation. We will look into realty.com and a mortgage broker before giving up…Thanks for the advice!
loslunas87031, Are credit scores are very good and it is considered real estate. I think you are very right. That seems to be exactly what they do. The houses they seem to keep steering us towards are quite a few thousand more than we want to pay. Our agent always claims that since we are "quailifed" for a certain amount that we should be looking for 5,000 – 10,000 higher because we can offer a bit lower. Everytime we find something for less we are faced with head shakes and a hundred reasons why that property isn't "good". Home buying has been more of headache than I would have dreamed! It is so frustrating to find something perfect and affordable and told, "I really don't think that is a good investment." Maybe we should just start demanding detailed explaination as to why they won't finance a trailer and try to "barter" them into it…. I don't know. Thanks for your help!

Technorati Tags: brick foundation, buying a home, city limits, city water, crawlspace, double wide trailer, first time home, first time home buyers, foreclosure, front porch, Modular Homes, patio area, private land, property tax, quot, real estate agent, residential area, sq feet, time home buyers, water and sewer

I am planning to buy a modular home for retirement. I need background information ASAP! I need catalogs with models, upgrades, prices, setup costs, pre-construction costs, construction costs, time constraints, financing information, money needed to start orderinghome/site prep/construction/etc. A plan with appropriate time schedules to order, purchase, deliver home to site, site prep, setup home, garage(?), sidewalks, copper plumbing(?), all electric home(200-300 amps?)), oversize doors (36" interior & exterior), exterior lights, electric appliances(washer,dryer,dish washer,microwave,central heat & A/C),etc.

Technorati Tags: amps, background information, catalogs, central heat, construction costs, copper plumbing, dish washer, electric appliances, home garage, information asap, information money, microwave, modular home, pre construction, quot, retirement, sidewalks, time constraints, time schedules, washer dryer