My husband and I would like to purchase a home for the second time. Our first home went into foreclosure and is now on my husbands credit. Is there somewhere we can go to get a loan without having to pay a big down payment? What we are looking into is a double wide mobile home to place on two acres of land.
2006-06-19 15:15:16 · 3 answers · asked by jeezmeneti66 3 in Home & Garden ➔ Other - Home & Garden
This depends on how long ago the foreclosure happened. Each year under your belt will give you better odds.
You can check your credit score online- or even order a free credit report that is mailed to you. (experian.com is a great place to start.)
Once you see that report, you'll know what the creditors are looking at. If you find a nice banker that will sit down and talk to you, you might have a chance of either explaining your situation or getting a gameplan for how long it will be and what you can do to get the loan you're looking for.
Hope it all works out!
2006-06-19 15:21:37 · answer #1 · answered by Marlo B 2 · 1⤊ 0⤋
You never now until you try. Give it a shot and don't be discouraged. Talk to a federal counselor about HuD homes also.
2006-06-19 23:15:29 · answer #2 · answered by Sassy OLD Broad 7 · 0⤊ 0⤋
If you owned the land it could be your collateral.
2006-06-19 22:19:32 · answer #3 · answered by 2¢ 4 · 0⤊ 0⤋