Can I still get a loan for about 100.000 if I file bankruptcy 2 1/2 year ago including a foreclosure I am trying to buy a mobile home in Daly City

Asked by Luz Ponce, Daly City, CA Thu Apr 22, 2010

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J Mario Preza, Agent, Daly City, CA
Tue Dec 7, 2010
I just helped a buyer get into a house after a similar situation -- bankruptcy 2+ years ago. I don't know how the lender did it, but the buyer did his part, re-established credit, and continued working at a high-paying job. So, a lot will depend on a few factors and finding a lender who knows how to put the package together. Of course, the interest rate will definitely be slightly higher for anyone with this type of credit profile, but, given the lower priced homes in most areas, it still makes sense to buy now.
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Jeff Kim, Agent, Blackhawk, CA
Wed Oct 13, 2010
I am very familiar with the area and I presume you are speaking of the Franciscan mobile home park? To add to the earlier post, in California and specifically Daly City you are paying more of a premium for the land and not the actual mobile home, which some that I have seen are very well kept.

As for obtaining a loan, contact a local lender who may be able to better gauge your situation. Feel free to contact me for a list of lenders that I work with.

Good luck
0 votes
Don Tepper, Agent, Burke, VA
Thu Apr 22, 2010
Maybe. Depends on the lender.

But that's an awful lot for a mobile home. Make sure you're not overpaying. You can get a gorgeous 3 bed/2 bath, absolutely new manufactured home--granite countertops, stainless steel appliances--for around that price.

If you're talking about a 5 year old 3/2, it should be priced a lot lower.

If you find that you're unable to get financing, look for owner financing. Not all mobile/manufactured homes are available with owner financing--some sellers will need all cash--but you'll find more seller financing with mobile/manufactured homes than with conventional homes.

Hope that helps.
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Anna M Brocco, Agent, Williston Park, NY
Thu Apr 22, 2010
A lot will depend on the type of bankruptcy, current financial situation, credit score, etc., Visit with any qualified loan officer(s) and then make a determination.
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