To be honest, I am more worried about your state of mind than trying to educate you on buying a home. There were several phrases in your question that signal alarm. Do you have any family to talk to? I would recommend getting with a professional in counseling and sort through these issues that plague you. Nobody should feel like they should be dead, and if that is how you feel, I would find a resource fast! If you are not sure where to go let me know and I will try and direct you somewhere.
It is a free conversation to have and he can help you. Agents and Realtors have no business telling you about a loan or lending. That is the mortgage persons job and information to share, correct information.
Best of luck.
Tierra Antigua Realty
Possibly you can find an owner who is willing to work out a lease/ purchase or seller carry to help you through these times. It may be very difficult to find conventional financing with that high of debt to income ratio, so private financing may be an alternative solution for you.
Where there is a will, there is a way, so please don't give up!
Very sorry to hear about your financial situation and also your health. Can you reach out to family, friends and others about your health? Find someone you can talk to as soon as possible.
One good news area I see is that you own your home outfight and right now the market for lower priced property is very good. Would you consider selling your home, converting it to cash and having some money to live on then? You could find something reasonable to rent and lower your stress.
Please reach out and find someone to talk to right away.
Arizona Homes for Sale by a Guy from Iowa
I would like to second the other comments that purchasing a home is not the best thing for you right now given the situation you described.
The best thing for you to get some advice would be to contact a lawyer for legal advise specific to your situation. Further I would tell you to seek out some assistance that might be offered pro bono so that you won't be set back any further. But please be careful about some of the advice that you are receiving because there are those out there who will take advantage of you while you are in the tough spot.
Best of luck.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
I am so sorry to hear of your unfortunate circumstances. As Jonas said, I think you have other issues you need to deal with first. Selling & Buying a home is the last thing to be doing right now. (and unfortunately, it sounds like it's not even a possibility based on your financial situation). You need to focus on you. Reach out to family, friends, clergy, or even your city's social services or mental health deparment. Once you are in a better place mentally, then focus on your debts. Talk to an attorney and figure out what your options are. Hang in there.
At this point, you can't buy a home. Nor should you.
Also, you seem to feel that you shouldn't have to pay lot rent: "I own the home yet pay a lot fee" and "I own a manufactured home . . . yet I have to pay over 700.00 monthly for lot fee and utilities." Sorry, but that's the way it works. You own the home, but you don't own the ground it's sitting on. The lot rent is just that--rent for the lot. It also covers (probably) maintenance, amenities, etc.
Get yourself financially secure. Right now, that doesn't mean making a purchase.
YOu actually have many options so DO NOT THINK IT IS THE END. It is not. In fact you can really make your situation very positive and make it benefit you in the long run. First let me clear up a couple things, first the agents that are answering this are fantastic and compassionate. I 100% disagree with the 1 in 5 are in food stamps in Arizona. Arizona is in bad shape but when things are at the bottom you can only go up.
My recommendation is to do a couple of things:
Find a mortgage person who is in your corner. I can recommend a couple but start by calling COURT CROFOOT at HOMERUN FINANCIAL 602-882-5588
Next speak to an attorney(do not pay for this, just call and ask your questions and get options.
NEXT find an agent that you trust and can work with. Again, there are some really good ones.
Do this sooner than later. Feel free to call my office at 602-705-4276. Myself or one of my agents will put you in the right direction. Best of luck to you.