Hard to find financing for mobile home purchase - Posted by janetek2

Posted by Steve-WA on July 25, 2003 at 16:26:51:

Dump? Hardly. I could buy 15-20 or more dumps for that much cash.

janetek2, you are not talking about apples and apples here. Although they are both living quarters, there is a significant market difference between a “house” and a “mobile home”. For 15K, you could buy a very nice, non-dump, MH. Contact a local Conseco rep about a repo, or ask a new home dealer for a referral of someone who has a used DW for sale.

15K dump. ggg

Please don’t even consider a $70K MH - you’ll get in deeper than you are now. That 70K MH will be worth a quarter of that in a year - or less. And it will be an albatross, the likes of which you ain’t NEVER seen!

Hard to find financing for mobile home purchase - Posted by janetek2

Posted by janetek2 on July 25, 2003 at 15:11:52:

My husband and I are in the process of selling our $225,000 single family home.The short story is we had a really rough year in 2002 ( both laid off, medical bills, etc) and we were 3 months behind on our mortgage when Ameriquest decided to start foreclosure proceedings. The sheriffs sale was June 5, 2003 and we are now in the 6 month “drop dead” stage. We will have no problem selling our current home. We would like to purchase a new manufactured/mobile home for approximately $70,000 purchase price, and can put down at least $15,000. We dont have alot of debt besides the house. Anyone have any ideas where we can get financing? I contacted a mobile home seller in my area and he thinks that because the foreclosure proceedings have begun (we will sell the house and pay off the mortgage before they foreclose in December - and we have NEVER been late on our 2nd mortgage) that we will not be able to find financing. His suggestion is to buy s $15,000 - $20,000 dump for cash and live in that for a few years. I am not really thrilled about the idea of going from a really nice home to a dump. If anyone has ANY suggestions for financing I would greatly appreciate your information ASAP. Our house has been on the market for less than 1 day and we already have 21 showings scheduled.


Re: Hard to find financing for mh - Posted by Cindy Devine

Posted by Cindy Devine on July 28, 2003 at 16:10:30:


Find a real estate investors group in your area. Try www.russwhitney.com, look to the left, should be a link for investor’s groups. They are a great source for info and will help you out.

Good Luck!
Cindy Devine
Devine Properties
Anderson, SC