Help! Fraud Victim in need of Loan to Purchase Manufactured Home

[nerak]

Hi,

I'm a victim of fraud in which there is negative information on my credit report. I have taken the necessary steps to get that information removed; however, I haven't been able to get all of it off. As a result of that fraudulent activity, my credit score is currently 522. I too am interested in purchasing a maufactured home in a park. What advise could you give me? Is there anyone who would grant credit for a loan to purchase a manufactured home in my case?

Thanks,

nerak

[mac]

Well, Karen Taylor, I would advise you to pull your credit reports and contest anything that is untrue.

[Claudia Tietze]

If you need to get financing quickly, and the home is far below the assessed value you can also go to a hard money lender. They charge higher interest and stiff penalties if you default. Also, you will pay more for the charge of drafting the papers. Check out The Scottsman Guide to find one in your state and ask if they will consider homes in parks. They usually will loan on land/home due to the value of the land.

Hard money lenders do not care about your credit, they care only about the deal itself.

You can also check Fred Coutts site. He buys notes at full face value. His site with info on the notes he buys is fredcoutts.com/index18

The more your credit is pulled, the lower your score will go. However, some loan officers have access to systems that can rapidly change the items showing on your report and rescore it within 7 days or so. Otherwise, your process can take from 30 days to 6 months.

[nerak]

Thanks for the information...I appreciate it. Do you know a loan officer you could refer me to?

Karen

[nerak]

I did...the majority of them have been removed following the investigation; but there are still six of them that I'm having difficulty with. Those are the ones that are keeping my score low.

nerak