Posted by Steve-WA on August 28, 2003 at 11:14:29:
I think one could get a feel from the lender if they would even consider it; if they consider, then your suggestion is WAY valid. Heed, Mel.
Property with MH - Posted by Mel
Posted by Mel on August 27, 2003 at 20:08:29:
Found property with 7 mh on about 2 acres. Also has 3 bunglows/cotteges. They want to sell for cash/ not owner finance, Called a lender in town today he told me that it was difficult to finance MH property. I want to live in one for second home and the other properties are rented. How am I to find the $$$. Thought of refi my house and getting down payment? Any suggestions??
if at first U don’t suxeed - Posted by Steve-WA
Posted by Steve-WA on August 28, 2003 at 10:33:11:
Write a business plan. Try more lenders. After each no answer, ask why - what could I have done or said or had in my plan to get me a yes, or what would have made this a better risk for you (the lender). Tweak your plan, go to the next.
You may get a passle of "no"s, but be happy with each one - it brings you closer to the yes.
Geez, I oughta teach a firewalking seminar.
Re: if at first U don’t suxeed - Posted by Kurtis
Posted by Kurtis on August 28, 2003 at 11:07:30:
Make sure you take a 3 Bureau merged report w/all three bureau’s credit scores with you. This will stop each lender from pulling your credit. Very important as if you have to go to 4 or 5 lenders and each pulls your credit report by the time you reach the 5th lender your credit score will be 75 points lower(which is a very bad things. Good luck