Bellcrest MH

[Emily]

I'm new at looking into manufactured homes. My boyfriend and I are looking for a used home to get us through remodeling/burning and starting over a house. I estimate we would be in the home for about 5 years. I have found a 1995 Bellcrest DW that I really like. It has 3BR/2BA...does anyone know the approximate value it might be? The owners are looking for $2,000 and TOP. Neither of those options are going to happen if I am the buyer. The lender was Greentree and now Conseco (sp?) and we think the home was purchased at $33,000 and the loan was for $39,000 (plus setup, etc). It's financed for 20 years at 12.9%. So as you can see, I'm not taking over any payments! It's been a week since we've been calling the bank trying to figure out what payoff with still no answer! Does anyone have any idea how to find payoff or any 800#s for Conseco? But I would really like some kind of price estimate on the home so I know what I will offer these people when it comes back that they still owe some huge amount of money. Also, is there a depreciation on MH? Thank you so much!!

Emily

[rmurray]

Does the home have to be moved...???....

This comes from the Conseco web site..
"

Customer Inquiries
"Online payment and balance inquiry is not available at this time. Please call customer service if you have questions regarding your account. ......."

For questions about your account, please call Customer Service at 800-643-0202 or fill out and submit the "Contact Us" form by clicking here."

Conseco will only send written pay off quotes..They take about 2 to 3 weeks....
If these folks are behind in their payments..the collector they are dealing with can also get the info..

It is imposible to comment on the value..I have been selling Bellcrest for over 6 years and do not exactly remember one that cheap.....There were some very basic specials that this home might be...You have not even mentioned the size...let alone what features it has and what model it is..

From what you are saying..the payments should be about $ 454/mo...If that is correct..the payoff would be $ 34,277.38 after the 84th payment is paid..

[Emily]

The home does have to be moved. I think it is 70X32, but not real sure. The bedrooms are big with roomy closets. The master bath has a garden tub. The kitchen has an island. There is a fireplace in the living room. It has vinyl siding and shingle roof. I don't think this is a basic home at all. It also seems to be in very good shape. I have no idea what model it is. I guess I should have mentioned this, but the owners are the 2nd owners. Apparently some little old ladies bought it brand new and custom made for about $48,000. The old lady with the money died...and these people financed it for $39,000 which included set up and everything. Since Conseco is being such a pain in the #*$*, I would like to make the owners an offer and maybe they have to suck up the difference. I know their payments are $500/mo and that includes insurance. I don't think they are behind in their payments...just wanting to move into the house they redid.

Thanks for the #...I will try to call that, but so far, anyone but the extension the owners gave me won't talk to me since I don't know the address, SSN, etc. This is a pain in the butt!!

I am very interested in what the value of the home might be...thanks again!!

[rmurray]

The federal privacy act is the cause of the problems with a response from Conseco...This is why they will only do written payoff information..There is SEVER consequences for any company that divulges personal private information..

They will NOT give you any information...only the owners of the loan can get it..and then only to the address that is on the payment coupon..

If the home is a 32x70...the moving costs will be about $ 4000..+/- $500...but the price seems very reasonable..The payoff I posted should be fairly accurate..

[Emily]

My boyfriend knows the story and is telling me more now. He says the guy paid off the old lady's mortgage company and the home was $33,000. He then financed set up, etc at $39,000. He also got it from a dealer.

So far our problems with Conseco have been...we went to see the home on a Friday and the owners called their guy at Conseco that they deal with and put him on the phone with my boyfriend. He then asked what pay off would be and the guy said he would try to find out. We and the owners call Mon and the guy says he has to fax it and it will be a few days. We call on Mon and the guy says he has to email somebody, etc. We call Fri and still no answer. Seems like this jerkoff should know his own policies! I know this isn't your fault...but it's so frustrating!!

As far as if payoff is in fact $34,000...that's more than these people paid for it! Not to mention, I could get a brand new home for that much with maybe a little more added...and if it costs $4,000 give or take, I could definetly get a new home with set up for that price.

Is a 7 year old home worth $34,000? What do you think the home might be worth? Because I may try to talk to the owners...and they will just have to suck up the difference!

This is so frustrating!

[rmurray]

The value of the home has nothing to do with what they paid..or what they owe...

The value is only related to the local market and the other product in the market in the area...

Shop around...see how this home stands up to the market of other homes for sale in your area...Then make an offer...Although few folks can sell for less than their payoff...


Good Luck

By the way...if the home is a 32x70...the original price was probably about $50,000...

But it is impossible to tell from what you have said...

The cheapest NEW 32x70 homes are about $ 53,000 in todays market...Could this one be worth $ 34,000....sure..

[Emily]

We just found out yesterday that payoff is $40,000! When you throw in moving and setup, you might as well get a brand new one! We thought about making the owners an offer, but they probably can't pay off the remainder of the loan.

Anyway, we went to a dealer in town and found a 1997 Bellcrest Northern (or something like that). The dealer is asking $20,900...but of course, that's negotiable and includes delivery and setup. I really like it so I hope we can work something out. Now we just have to clear a place to put it!! That'll be the fun part.

Thanks for all your help!!