http://www.dslreports.com/forum/r20256679 en Fri, 29 Aug 2008 21:11:26 EDT Fri, 29 Aug 2008 21:11:26 EDT http://www.dslreports.com/forum/remark,20266364 ureihcim : Try »suntrust.com

They might be able to help you and give you a low interest rate for the trailer. Although they might look at you funny at first, I have done business with them before and have made exceptions to the rule as long as certain requirements where met.]]> http://www.dslreports.com/forum/remark,20266364 Tue, 01 Apr 2008 19:40:23 EDT http://www.dslreports.com/forum/remark,20264995 Maxo : Yes I do. I think we filed to have both pieces of property put on the same deed. I'll have to double-check that.]]> http://www.dslreports.com/forum/remark,20264995 Tue, 01 Apr 2008 15:55:28 EDT http://www.dslreports.com/forum/remark,20264947 davidg : do you own the land it sits on and is that a part of the loan? if you outright own the land, you may be able to get a loan on the land and get clear title to the "trailer"!
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Lack of Preparation on YOUR Part does NOT Constitute an Emergency on Mine!]]> http://www.dslreports.com/forum/remark,20264947 Tue, 01 Apr 2008 15:49:42 EDT http://www.dslreports.com/forum/remark,20264730 Maxo : I like the word trailer. It allows for many self-deprecating jokes to be told. ;)
The loan would be ~$45K. Visiting a local 'manufactured home' dealer sounds like a great idea.
It is a double-wide BTW.]]> http://www.dslreports.com/forum/remark,20264730 Tue, 01 Apr 2008 15:20:39 EDT http://www.dslreports.com/forum/remark,20264183 davidg : a few years ago my wife and i were going to buy a trailer from a friend. the ONLY place we found that would do it was GreenTree Financial. if it is a double wide or bigger, then you MAY be able to get a local bank to do it. but single wides are not done by many places at all. the one we looked at was a large single wide, almost but not qutie big enough to be double wide, and 10 years old. they wanted 16k for it, which was pay off of the loan. it appraised at 7500.00 and there was nothign wrong with it. i could not buy into the negative equity so we let it go.

call up the local trailer sales places and see if they can recommend someone to do a refi.

also, when you talk to them, it is a manufactured home, NOT a trailer. trailers imply that is was made prior to '78-'79. back then there was no standard for construction, each company pretty much did what they wanted. manufactured homes meet national and local building codes. i have been told (though i am not sure if it is true or not) that this is one reason they no longer leave the wheels/axles on them.

how much money are you talking about borrowing anyway? you may have to take out a large personal loan and use the home as collateral. not a lower rate mortgage, but higher interest personal loan.
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Lack of Preparation on YOUR Part does NOT Constitute an Emergency on Mine!]]> http://www.dslreports.com/forum/remark,20264183 Tue, 01 Apr 2008 13:59:44 EDT http://www.dslreports.com/forum/remark,20263526 Maxo : My Credit Union has a no-trailer policy. ]]> http://www.dslreports.com/forum/remark,20263526 Tue, 01 Apr 2008 12:28:08 EDT http://www.dslreports.com/forum/remark,20263495 heels_fan : Maxo
Have you tried your local Credit Union?
I know they sometimes will loan or make mortgages that other banks will not.

Also, you might want to look at mortgage companies that will do manual underwriting. Sometimes those companies will write loans/mortgages others will not.
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everyone is born ignorant. some are born stupid, others achieve stupidity and the rest have stupidity thrust upon them.]]> http://www.dslreports.com/forum/remark,20263495 Tue, 01 Apr 2008 12:22:44 EDT http://www.dslreports.com/forum/remark,20262298 Maxo : Yeah, that's pretty much what they told me a year ago. This thing is 12 years old, so it's probably already lost most of the value it's going to lose. I got the thing for repo under $50k, so it seems like it would be relatively low risk, but I don't really know much about such things.
There's also the factor that Hayward mentioned. Nobody wants to risk these things being blown away in a Hurricane. I didn't even want to go with a trailer for that exact same reason, but it was really damn cheap.
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"Padre, nobody said war was fun now bowl!" - Sherman T Potter

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»myspace.com/mlsquad]]> http://www.dslreports.com/forum/remark,20262298 Tue, 01 Apr 2008 07:47:27 EDT http://www.dslreports.com/forum/remark,20261723 Hayward : And even beyond depreciation, no offense but FL is about the worst place to even try and do that in best of economic times, let alone now, given the storm risk on a trailer/mobile home, especially one maybe not properly tied down, and all those bank hoops to jump through, proving maybe it actually is, and then still not a risk they may want to take depending where actually located.
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»haywardm.com (Hayward's Key West)
]]> http://www.dslreports.com/forum/remark,20261723 Tue, 01 Apr 2008 01:29:35 EDT http://www.dslreports.com/forum/remark,20259971 viperpa33s : Don't know of any bank that will finance a trailer, not to say a bank won't do it. A trailer depreciates in value quickly which is why many banks won't finance a trailer. Of course you can try doing a Google search, that unless your looking for a local bank. ]]> http://www.dslreports.com/forum/remark,20259971 Mon, 31 Mar 2008 19:19:17 EDT http://www.dslreports.com/forum/remark,20258893 Maxo : What I'm needing is a bank that will finance it. A year ago I was not able to find one, which isn't to say that I looked that hard. I was just curious if anyone knew of a bank off-hand that definitely would finance a trailer for someone with good credit.]]> http://www.dslreports.com/forum/remark,20258893 Mon, 31 Mar 2008 16:11:36 EDT http://www.dslreports.com/forum/remark,20258804 Juke Box : Oh ok. I was thinking that you were talking about two different entities. A place that is in your step dads name and a trailer.

All things being equal, there shouldn't be any problem with getting a mortgage as if you buying the place from your step dad.
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If you are having half as much fun as I am, then I must be having twice the fun than you are. Do The Math!]]> http://www.dslreports.com/forum/remark,20258804 Mon, 31 Mar 2008 15:56:44 EDT http://www.dslreports.com/forum/remark,20257699 Maxo : Right now the loan is fully in his name with his rental house as the collateral. I need the loan to be fully in my wife and I's name to cover the entirety of the existing loan.]]> http://www.dslreports.com/forum/remark,20257699 Mon, 31 Mar 2008 12:36:26 EDT http://www.dslreports.com/forum/remark,20257593 Juke Box : I would think that mobile home sellers have differing financing options through various banks and lending institutions.

Are you trying to get a loan large enough to cover the mobile home and your portion of your loan with your step father?
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If you are having half as much fun as I am, then I must be having twice the fun than you are. Do The Math!]]> http://www.dslreports.com/forum/remark,20257593 Mon, 31 Mar 2008 12:20:59 EDT http://www.dslreports.com/forum/remark,20256679 Maxo : Anyone know of a bank that will put out a loan for a trailer? My house is currently co-owned between myself and my step-father. He took the loan out using one of his let houses for the collateral. I am now trying to get it purely under wife and I's name so that his let house will be free from the banks.
When I initially looked in to doing this I was not able to find anyone willing to do a loan on a trailer. I can only imagine the situation is much worse now.
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»myspace.com/mlsquad]]> http://www.dslreports.com/forum/remark,20256679 Mon, 31 Mar 2008 09:46:46 EDT