Posted on: 28th Mar, 2010 07:50 am
We have a credit score of 800+ each, income of $125,000+/yr, have a very large 401K, own our own home, etc. but we need to get our daughter & grandsons in their own place ASAP. She has a very poor credit history & can't do it on her own. She earns $25,000.00/yr but has made poor decisions & is a single mom. We can pay for the land outright but would need to finance the mobile home. We would keep it in our name until she clears her credit. We can not find ANYONE who will finance this for us. We have been looking at repos to keep the payments at around $500/month. Any ideas?
Hi whiteterri,
You can contact retailers who sell mobile homes and check out if you can get such a property. As far as the mobile home loans are concerned, if you already have a loan in your name, it will be difficult for you to get qualified for another loan on a new property. Your daughter can check out the option of owner financing in order to buy a property in her name.
Thanks
You can contact retailers who sell mobile homes and check out if you can get such a property. As far as the mobile home loans are concerned, if you already have a loan in your name, it will be difficult for you to get qualified for another loan on a new property. Your daughter can check out the option of owner financing in order to buy a property in her name.
Thanks