We found THE house! CRASH! BURN!

[Chris_Medico]

Re: We found THE house!

Don't give up Joe,

I'm in a modular home and in the beginning I had a time getting it financed. It took talking to a really good broker. He found out that the previous broker was coding the property incorrectly when it was being submitted to the underwriting group.

Long story short, true modular homes are financed the same as site built. If this had been a HUD code home it would have limited the note to 20yrs. That was about all.

I would recommend you talk to a mortgage professional that can represent a range of lenders. They should be able to find a loan that fits.

Good Luck!!
Chris

p.s. Post some pics when you get it worked out.

 

[PlayboyJoeShmoe]

Re: We found THE house!

We have an application to a place that actually sells and reconditions mobiles to work with.

We have info faxed off to a Lawyer ex husband of a good family friend to work with.

And the realtor that found us the place still tells us he's working on the problem.

I don't know if anything has been done with the list Cro provided, but I do know it ain't over 'til it's over.

The trailer I will be sleeping in will be here tomorrow. We took 64 crates, a washer and dryer, a bed and some other stuff to a storage facility today. Last night sleeping in the current house and bed is tonight. The HP gets taken down and boxed tonight. I'm going to concentrate on getting the stuff I want off the K5.

The movers come for the heavy/bulky/fragile stuff Thursday. Everything else gets moved or trashed by Sunday. July would make 20 years there! It's gonna be strange not living there!

 

[BIGIRON]

Re: We found THE house!

Technically, it's not the Realtors job to find you financing, but good Realtors I know will bust their butt to get you in a house. And it's not just the paycheck, most of us get great satisfaction in helping someone get into a home, particularly if it's a first timer or there's a hard luck story involved.

It would be difficult to hire another Realtor at this stage of the deal, but if this deal falls thru, I'd sure find a better agent.

 

[3rd_shift]

Re: We found THE house!

Some major credit unions will finance a manufactured home.
Just like buying cars, never let the business manager/realtor find money for you to spend on the deal.
Find it yourself at your own bank, or credit union with your own loan officer if you can.
This usually makes the whole deal a lot easier for everyone involved.

"Well, he has the money ready to go now albeit, less than we hoped for, but still, all we have to do is, get him in the home quickly to rack up another sale."

My $34,100 F350 was going to be 680 a month/72 months from the outset with the business manager doing everything for me.
I said:
"Um, What are you doing, I have my own credit union that can do better on price for me in every way."

35 minutes later, it was 550 a month with no trade or money down for 72 months for the entire amount.
I then cancelled the bogus extended warranty and the refund from that put me 4 months ahead on the note. /ubbthreads/images/graemlins/yellowlaugh.gif
You just gotta put on the brass knuckles and switch on your brain to "high" and take control.

 

[PlayboyJoeShmoe]

Re: We found THE house!

That is all well and good...

We don't HAVE a credit union. My personal bank account is with a big impersonal megabank.

Our company account is in Pearland which is approxiamately 90 miles from the place. And we didn't get treated all that well when we bought my (sisters) 1995 Town Car.

The place that sells and reconditions mobiles has called several times for more info. The lady knows about all our faults, and is still plugging away at it.

Like I said, it ain't over until it's over.

 

[PlayboyJoeShmoe]

Re: We found THE house!

Groan. Moan.

After the second night in the trailer (which was much better than the first night!) I'm only half as sore!

The realtor is all gung ho again... and the brokerage is apparently busting a nut trying to set us up.

Keep praying like we do, it just might help.

 

[PlayboyJoeShmoe]

Re: We found THE house!

It all boils down to the property.

The "Manufactured" home which is too close to the front of the property (homeowners assoc. will sign off). There aren't anymore within 5 miles that appraise to within 50% of it.

Every time a hurdle is jumped, two or three more appear.

Right this minute, Dad is talking to a friend of a friend about putting 20% down. But as the guy hears everything, more questions get fired at him.

We have been told by anothe F of F about an 11 acre property some 20-25 miles E-SE of this one with a 1700-1800 SF home and septic and water in place for a trailer. But of course, it will take dragging in another trailer.

It's making my head do the poltergiest spin!

It ain't over yet, but the end is visible.

Keep up the prayers!

 

[Wolfen]

Re: We found THE house!

Good Luck Joe!

 

[Wylie]

Re: We found THE house!

My best wishes are with you Joe.
I just got into a home and it was through a small lender and not one of the larger ones that got the ball rolling for me. The big boys were trying to work me with the double loan deal and a bunch of crap that would have really had me on the edge for a long time.
Uncle Sam had completely lost track of me as the past four or five years were really rough for me. I didn't even make enough to file for a tax return but did keep my credit rating up.

The best I can suggest is to dump the next (or couple) pay check into a new account with a small lender at the same time you apply for a home loan through the same bank and watch the final line you sign.

Good luck Joe,
Wylie

 

[Samoan]

Re: We found THE house!

If you're looking to possibly go through a Credit Union contact a good one in your area and ask if they have any gateway groups that allow someone who is not in one of their SEGs to become a member.

 

[PlayboyJoeShmoe]

Re: We found THE house!

Thanks Samoan!

I'm not the caller, but Sister is prepared to start shaking the trees on Monday, and I've printed the info you PM'd me!

This has really tested us. It is a royal PITA!