mobile home financing?

Question

I'm thinking about co-signing a mobile home for my mom, how will it show up on my credit report? As real estate or a personal loan?? Will I be able to rent an apartment with this on my credit report??

Answer 1

It'll show up as an installment purchase. You will still be able to rent apartments and such as long as your mom makes all the payments ON TIME!!!! It shows up as a debt in your name and has the EXACT same affect as if it was entirely in your name.

Answer 2

If it is a mobile home with no land, it is considered a retail installment contract, the same as a car loan. If she is purchasing a land/home package, then it will show up the same as a mortgage. I don't see how this would hinder you from renting an apartment, but it could give you problems if you were to apply for a mortgage loan. Please keep in mind that if your mother cannot make the payments, then you are responsible for them.

Answer 3

all of your doing having a number of places pull your credit is lowering your score with the quantity of inquiries making it even harder to get your own loan and in case you do not qualify then sit down back and shop up a 10% or more beneficial effectual down charge and locate out what to revive on your credit record (your entitled to a replica because you've been denied credit) as well, count number your advantages - there is not any cellular abode properly worth it truly is fee properly worth procuring - procuring a cellular abode is like throwing funds away - it depreciates in fee over 10% the minute it comes off the lot - wait shop and purchase an favourite abode

Answer 4

donate plasma.... 3-4 times should pay for the whole thing

Answer 5

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