what f I give back a manufactured house to the bank and buy a real home  especeally financially?
104864
You can not "give back" a house, manufactured or otherwise. you can pay it off early, however depending on the loan you might have a prepayment penalty. If the bank "takes back" a home it is considered a foreclosure, and then you can kiss your dreams od buying stick built good bye for awhile (12 -24 months to get an affordable rate, plus you will not be able to finance as much of the loan). Your best bet is to sell the home, then buy one that is stick built. The problem is that your manufactured home has to be post 1976 in order to fall into HUD guidlines. If it is older than that then you need to find private funding as it can not be sold on the secondary market and no lender will finance it (has to qualify fanny or freddy). If it is newer than '76 talk to a realtor and get the house sold. There is nothing wrong with looking for, and drawing up a REPC on a house you would like while your other house is listed. You can make the purchase of the new home contingent on the sale of the old home. Or of you have good credit and make decent money, you can purchase the new home before the old home is sold. The old home just becomes a second home, or investment property depending on the distance from the old home to the new home. There are lots of options for you .. but "giving back" the man. home is not one of them.
463851
Get a loan on the home that is for the amount that the house costs, and the difference between the worth and the cost could be considered the down payment?\n\nOr, get another person to invest the down payment, with promise of high interest with the repayment. Since it's foreclosed, I'm assuming that the value is higher than the price, making it an attractive investment for your partner.\n\nOnce you buy it, you can\na) sell it, and pay your partner with interest from the profit\n\nb) rent it and do the same\n\nc) live in it yourself, and with the money you are saving on the monthly payment, repay the partner
44320
Assuming you can pay it off in a lump sum, what would the cost be?  I.E.  Is that money just sitting, or is it invested and what is the return on that investment?\n\nIf you are talking about taking money from a savings account to pay it off, a savings account that is somewhat set asside for retire use, maybe the real question should be, is it time to move?\n\nIf it is, due to retirement, fixing up the house should be top priority, and investigating what you can get to replace it.\n\nIf you do decide to move, the mortgage will be paid off once you sell, and so paying it off is rather irrelevant if you have a quick sale.\n\nIf you are staying forever, really depends on your interest rate, and what you are getting in a return with your invested funds (assuming they are invested).  I know a friend had a rate of 2.75% FEMA loan and he thought he would be more secure paying it off.  He was getting 5.14 on his invested (SECURE) savings account.  Of course HE should not pay it off, because he was making more money by paying on the mortgage.  It all depends on your situation.  Let's assume your investment is a wash with your interest payments.  Having liquid capital is always better than having to go out and get a loan when money is needed.  First, the loan may take a lot of time, 2nd the loan may cost you fees, and 3rd, waiting for the loan could cost you the opportunity that you needed the money for.  The old saying, CASH is KING seems to come to mind here.\n\nOn the other hand, if you are paying 7.14%, while your invested funds are earning you only 2.14--you are losing money without a doubt.  And if you have a 2nd mortgage at even higher rates, need I repeat?\n\nMaybe, you are saying you are going to be able to draw on retirement funds (penalty/tax free) in the very near future.  If this is the case, and again the funds are not outproducing the interest costs, clearly, pay off the mortgage.\n\nHope this helps...
671428
You should contact the lender (the holder of the mortgage) for help.  They can advise.  They are the REAL owner of that house.\n\nYou have no reason to want to enter the house, so don't.  Force a sale of the house or have your ex-bf refinance and buy you out.
597022
Save the house. Moving back will one save you a rent payment but also and i do not know the state you live in but sometimes the taxes are cheaper if you are living in the house. Get a beater Honda or Toyota and drive that and keep the SUV as a second car or get rid if it all together. Sometimes if you list the beater as you daily driver and the SUV as a recreational car you can save money there. In the meantime i would start looking for a job closer to home if you can. If not then i would live in the house till you sell it then find something else to buy once it has sold. Owning a home is the last tax shelter with out uncle SAM will have his way with you if you do not own a home. I hope that helps. FSBO is a tough call. The markets are slowing down and i would shop at least 4 or 5 Realtors and negotiate a smaller commission. Without a Realtor involved you open yourself to lawsuits. Check with friends of family members for a recommendation.
9051
The bank would much prefer you to make your payments compared to taking on a property.  Talk to them.  A lot of times they can work out a deal.
80159
You should have some financial knowledge before setting out to get a loan.  I imagine you need the loan to purchase a one family house, instead of some apartments and other high end real estate.  I would suggest that you read a book first on buying a house, it will explain many of the curve balls the bank will throw at you when it comes time to buy the house.  Credit is not so important because the house will be your equity.  If you dont pay the bills the bank will take the house.  Try going to one or more banks, if they decline your loan, then ask them why, this way when you get to the next bank you will have some experience.  The bank is the safest way to borrow money, aside from loan sharks, and family.  You should look for a competitive interest rate, something less then 5% is good but I wouldn't pay more then 6.5% no matter your credit.  Well if you have a credit rating of less then 500, then be prepared to pay more in interest.  A large down payment will defer some of the monthy payments.  When buying a house I prefer to tie up the deal first, then worry about the money.  Also look the housing market in the USA showing slow growth this year.  I bet next year houses will be a lot more affordable.  Whatever the asking price is, take 10% off that price and offer the person that.  Look at the house, if there are cracks and damage take that out of the asking price.  I would buy a book on real estate before buying a house.  Get something like real estate for dummies,  I know it sounds degrading but its a 20 dollar book and could potentially save you thousands of dollars.  Its better to be informed before making an expensive decision.
867573
What if the home is really worth $140,000.\n\nStop trying to steal homes... find a house you like and pay what it's worth.
233045
If you don't have a house then you should buy one. If you already have a house but you don't have a business you should open a busines and finally if you already have a business you should invest in the stock market.
187359
You say your house "Will be" mortgaged by a finance company, does that mean you haven't bought it yet?  If that is the case then get a job or second job or wait until you can afford it.
140568
I don't think you can think of a mobile home as an investment, and if you aren't really saving any money I don't think it would really be worth it.  \n\nIt's one thing if you own the land the mobile home is on, but to just own the mobile home, I just don't see the value.\n\nI would think it would probably be best to buy an old mobile home (so that you can save money on the mortgage and the space rent), and put the money you are saving in a bank account and use it later as a down payment on a house or at least a down payment on land.  You will probably be better off.  \n\nGood luck.
478343
You can always purchase another home.  If you are not planning to live in it you would apply for a non-owner occupied loan.  The rates are typically higher for this type of purchase.  Additionally the amount a lender would provide is also typically less due to the increased risk. You mention doing improvements and flipping it.  There are some risks involved with this type of venture.  First a new lender may not wish to finance a property they know will be sold shortly after granting you financing as it is not cost effective for them.  Also after you renovate the home the new purchasers may have trouble obtaining financing since you purchased it less than 12 months ago.  If you do re-sell the investment property in less than 12 months the new purchasers lender may require evidence of improvements to the home to justify the increase in value from the time you bought it to the time you re-sell it.  I recommend you keep all receipts and cancelled checks you obtain during renovation to adequately substantiate the value increase.  House flipping is not easy task.  You can lose your shirt if you are not careful.
1034769
You make 2000 a week.  Your mortgage is only about 1400.00 a month.  You should have tons of money unless you are living beyond your means, and aren't we all?  Keep the stock if doing well, if you sell you'll get killed with the capital gains, especially in your income group.  OR, sell the loosers or a portion of thes stock and put it into other vehicles.  Pay a couple extra dollars every month on the mortgage and it'll be paid off quicker.  Start saving something, even if only $1000 a month.  Try living a little simpler, and getting rid of some of those toys.  Yes, you can live without that big boat, some of us only have canoes, and you don't need the luxury sedan, they have all the same toys in cheaper cars.
47977
I'd take the house - you can rent it out and have income.  If it burns down, you still have the lot value.  If you take the car, once it is ruined, it is gone.  The value in the car is in your ability to liquidate the asset, and to do that, you must find a buyer ready, willing and able to purchase the vehicle. The real estate has the potential to increase in value and is useable.  The vehicle seems more of a liability, and is impractical, unless you want to rent it out for weddings, etc.  Nonetheless, you still run the risk of depreciation every time you drive the vehicle out of the garage.  It's not like you can drive that car to the supermarket.  Of course, if you're looking to liquidate quickly, and have a qualified buyer, take the car, provided it is worth more than the house.  As an attorney, I can PROMISE you that the cash inheritance is NOT tax free! (Its called "estate tax") I'd say skip the cash, because you can liquidate both the other choices and yield more than the cash after taxes.
19757
You could talk to a real estate agent, but I advice you not to purchase a mobile home cause when you try to resale it. It will be very hard.
35984
I would focus on your comfortable monthly payment, and stick with that.  You may be approved for a much higher purchase, but remember, lenders are not your fiduciary; many people get in over their heads, and sure enough a lender was willing to take them there.  A top quality real estate agent will be able to guide you.\n\nAfter you determine your comfortable monthly payment, you might consider purchasing rental or investment property with your leftover financial capability.  A great book to read is The Millionaire Real Estate Investor, by Gary Keller and Dave Jenks.  This is smart as you focus on retirement and college expenses.  Good Luck!
831743
Take the BAH and buy a house.\n\nIf you're moving into military housing (mostly privatized) you're essentially renting.  You're not seeing any return for your BAH.  If you buy a place you're building equity and ultimately paying yourself back.  Not only that, any interest that you end up paying will go back into your pocket at the end of the year because you will be able to write it off on your taxes.\n\nOther than that...  Think of it as a "gated community" lol