Help financing problems

[Charlotte]

My husband and I need to find a home. Well, we found one in a mobile home lot. 2005 skyline new. We are not unique but are. I have been discharged from bankruptcy 1 year ago and my husband has no credit. I have mid scores of 620 and my husband has the income. We got approved on the home at 10 1/4% interest with $20,000 down. We feel this is high but don't know what else to do. We need to find something soon because the residence we live in is being sold. We would like to do a smaller down payment if possible. How do we know if this is a good investment? Will we get at least out down payment back if we decide to sell in two years? We eventually want land and a home. Can anyone out there help us? I have applied to as many internet financing as possible but have had no response. Also need help with insurance on this home.

[rmurray]

I posted an answer to your other post...but 2 years is very short time to to want to sell....Since you have these fears...why not lease another place for a year...most mortgage lenders want you 2 years out of the bk..with good reestablished credit...Then traditional mortgage companies will finance you and your hubby at low market rates..now about 6.5% with both the land and the home involved..your down would be no where near this amount...Be patient..it took a while to get into this credit box..and it takes a while to get out...Post bankruptcy..EVERTHING MUST ALWAYS BE PAID ON TIME...Mortgage lenders give no second chances...Be vigilant of your bills...wait a while to buy...Start the purchase process soon...Start now by getting your credit files and start working on correcting errors..there will be many post bankruptcy...This process can take months...the purchase process can also take months...Start soon..you will have a new home in about a year......