Financing

[Tracy]

Have any of you had trouble getting financing for your home?

I am writing an article on how few lenders there are in this market.

[rmurray]

For the industry there are 2 types of finacing...
Mortgage finance...for which there are virtually thousands of lenders nationwide...There is no shortage of very low priced mortage money...

The other...Home only finace is the other form of fiance...This is the one that has changed in the last few years...
For those with good credit ( 620 FICO scores and NO lates in the last 2 years..no large collections)...there is plenty of money available at fair...but higher then mortage rates...There are many companies with unlimited money available for those with good credit..These lenders have tightened up thier underwriting rules as well...They check income closer and now required much more verification of downpayments than they have in the past...This eliminates some of the dishonest consumers and dealers that used to lie about downs, credit and jobs in the past...

For those with credit problems...home only finance is out...but for most situations there is a mortgage lender available....Worse case senario would be the credit challanged would have to pay bills well for 12 months and the FHA will finance a home...

Purchase money is very available....Unfortunately some of our traditional customers....those with weak credit in manufactured home parks or on dad's land can no longer buy...The real question is..should these folks been able to finance with as little as 5% down and for 30 years in the first place..

[sabrina]

hi tracy,
have applied and been accepted into an unusual program for buyers who have had ch7. have been researching and applying for two years. have lots of interesting info for people with very low incomes and BAD credit through no fault of their own because of injury/illness. would be happy to help you incorporate this info into your article as it is so new, i've had to educate some public housing authorities about it!
sabrina
[email protected]

[Lara]

We have a double wide on permanent foundation, converted to real property on owned land. It was appraised at $213,000 a year ago, comps are at $230,000 & we owe $126,700 at 7.5%. Would like to refinance at lower rate or if possible put new home on land and obtain a wrap around loan (payoff old & buy new). Is this possible? Home is in excellent condition but was built in 1974.

[cre8ivegrl]

We are finding it difficult to get financing.

I have mid to high 600s no lates on any open accounts. I have 1 paid/charged off CC DOLA 1998, 1 closed CC account with 1-30 day DOLA 10/01 (but the 30 day was 8/2000). What is hurting me are two accounts. Actually they are the same account, one is a duplicate. It is for an attorney who didn't do her job (not lost the case... but didn't prepare a case at all) and then billed much, much more than was discussed. It is a bill I will not pay. Both accounts come back verified each time disputed, so I have sent off validation letters for both accounts. I already have violations for verifying the debt and reaging the account. I am hoping for them to continue to try to collect instead of validating for a third violation. I'll rack em up. It is just a matter of time. Meanwhile, I can explain the debts to each lender, but none seem to care. They just want it off. I don't blame them... I want it off too.

DH has high 500s/low 600s (need to check again). His scores are raising but he still has 2 bk and 3-4 paid collection accounts. He also has a few 30-day lates on some closed accounts from 2002. Shouldn't be any and are in dispute. His auto loan has never been late and is a year old and he has a new card that should report any day.

Brokers keep telling us that there has to be something they can do for us, and one even found us a deal with 10% down. But it's not in the community we want. We keep plugging away anyway. Eventually our credit will be good enough.

Shelley

[Mary Mitchell]

I am having a problem with the mortage on my manufactured home due to the lost
of income from my husband.
I don't know what to do in order to stay in my home.
My only income is my monthly disability check which is not enough to pay my
mortage and lot rent as well as my light bill to survive and stay home.
I glanced at a re-finance company on the net and did not have enough income to
re-finance to lower my payment or anything,
I probably need to talk to a mortage counsler;but I just do not know what to do at this point.
I have been with my husband for 23 years and now that he is no longer here and
I am unable to work, I just don't know where to turn.
Is there help out there for me?

[Ani Bazikyan]

Hi my name is Ani from Capital Funding, in Burbank CA. I am a loan officer here. We work with all credit scores and problems and we qualify you for a flexible programs Fixed. If you are having problems with your mortgage please feel free to call me I am a wholesale broker we can help you with your refi needs. We can offer you cash-out or consoidate your debt with 1 low payment.

Please call me at 818-913-0733 on my cell
or at the office 818-557-2900


Thanks
Ani Bazikyan
Sr. Mortgage consultant

[Ani Bazikyan]

Hi my name is Ani from Capital Funding, in Burbank CA. I am a loan officer here. We work with all credit scores and problems and we qualify you for a flexible programs Fixed. If you are having problems with your mortgage please feel free to call me I am a wholesale broker we can help you with your refi needs. We can offer you cash-out or consoidate your debt with 1 low payment. Even if you have a score of 500 I can help you get your loan in 48 hours or less with one flexible payment each month. And if you are currently behind in your mortgage dont worry we still CAN HELP YOU!!!!!

I love to help you out get rid of the pressure of refinancing.......

Please call me at 818-913-0733 on my cell
or at the office 818-557-2900


Thanks
Ani Bazikyan
Sr. Mortgage consultant

[Dusty Lloyd]

I work for Bridge Capital. I loan on Mobile Homes throughout the nation, including Maryland, a state that few lenders will lend in. We have competitive rates and costs and will get your loan done right. Call me for a prequalification 800-486-4573 ext 2377.

Dusty Lloyd
Sales Manager
Bridge Capital Corporation
800-486-4573 ext 2377
[email protected]

[rmurray]

Dusty...The web master has a program avialable to you to get leads from this web site..e-mail him for details...