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Financing in 66853 : Real Estate Advice

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Activity 4
Sun Feb 7, 2010
Jerry Long answered:
Makes no difference as to the source of the income, as long as it's a legal source. More info at www.TopekaHomeSearch.com or feel free to give me a call. If your question is too complicated, I'll do you a favor and refer you to a tax professional! ... more
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Sun Oct 4, 2009
Jane answered:
It is my understand there are only a limited amiunt of Lending banks and investors that are willing to provide a loan on a hud code manufactured house. The manufactured homes have a metal frame under them, and usually have wheels axles and a hitch attached. Mfg home have a vehicle title that needs to be purged before the home and land under them can be considered as real estate.
You are correct in the fact that USDA rural devlopment loans do favor ubc or irc modular homes. It is almost impossible to get a hud code manufactured home refinanced after they have been located on a site more than 2 years.
The newer modular homes have the appearance of site or stick built homes, and often it is difficult to tell them apart. Manufactured home still look like the double wide trailer they were first built as.
I hope this helps answer some of the ?? you may have. I have studied both types of homes as a certified residential appraiser. Jane
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Wed Jul 1, 2009
Jason Diperstein answered:
Hello Shar,

To clarify, are the collections paid already? If so, they will have no current effect on whether or not you are approved for a loan. Having them on your credit report as being paid will not harm you. You may have previously incurred damage to your credit scores, but generally your scores will be corrected 30-60 days after the collections are paid or removed. Good luck.

Kind regards,

Jason Diperstein
E Mortgage Management
800.793.9633 ext. 156
jdiperstein@emmloans.com
... more
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Wed Jun 24, 2009
Shar asked:
According to a credit gathering agency my husbands credit scores are 645, 586, and 583. However one of the reporting agencies tells us that his score is 642. Unfortuantely, there are also…
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