"Bringing Value Back To Mobile Home Loans"
 
Prior Bankruptcy & Foreclosure Mobile Home Loan Guidelines

What to Expect:

Getting mobile or manufactured home loans with a BK isn't as difficult as it seems. A bankruptcy filing has been known to deliver a harsh & devastating blow to your credit and FICO score, but it doesn’t mean you have to wait 10 years before you can qualify for a manufactured home mortgage loan. Many consumers who have filed for bankruptcy have been able to obtain a mortgage, although it is often at a higher rate than someone qualifying for a prime or "A-paper" loan(a loan in which the consumer has never filed a BK). Typically, Valueloans can finance or refinance your mobile home 1 day out of bankruptcy. For a traditional  A-paper loan, our investors require 2 years since the bankruptcy and an established credit history since the Event (1 year in park).

General rules for getting a mobile or manufactured home loans after BK:

  • In park new purchase will require a 15% down payment up to 5 years after event or discharge date.
  • In park new purchase requires re-established credit since the BK.
  • On land (land/home) a 5% down program can be optained after 2 years.
  • On land before 2 years usually requires 20% down payment.
  • Our Private Money loans don't factor BK but usually have a higher rate.
  • 1 day out of bankruptcy programs require 30% down payment.
  • What you've done since the bankruptcy discharge is more important than what you did during BK.
  • Chapter 13 BK's can be financed as debt consolidation on a refi.
  • Foreclosures are definitely worse than bankruptcy. Forclosure will require our private loans up to 4 years after event.

Each mobile home loan submission is handled as a unique qualification and is underwritten based on the "whole" loan package merits. If a file has strengths in other areas, they may in some cases out weigh the bankruptcy.

While credit card companies may care about what happened before you filed for bankruptcy;
ValueLoans.com is more interested in your recovery — what you’ve done since your filing. It won’t happen over night, but here are some tips and things to keep in mind when you inquire about a manufactured home mortgage with a tarnished credit past:

Give explanations: No mortgage lender is going to ignore the fact that you’ve filed bankruptcy and he or she will likely want to know the cause of the filing. Valueloans.com will be particularly interested in whether the same situation could happen again. Your chances of being qualified are much better if your bankruptcy was caused by a single event such as a loss of employment or a death in the family, than if it was the result of “just spending too much.”

Single Event:If the bankruptcy resulted from a single event, it is important to show MobileHomeLoan.biz paperwork describing the incident, such as the layoff notice or death certificate. You may also want to bring in court documents to indicate when the bankruptcy was filed.

Demonstrate good money habits now: Many people who file bankruptcy swear off credit altogether, however, it is important to re-establish your credit rating. Get a secured credit card or take on some sort of loan — furniture, a car or a major appliance — to demonstrate that you are able to make timely payments. Make sure you are making other payments (utility bills, cell phone, etc.) on time as well. You won't turn things around in a year but your credit score will improve over time.

Dispute any credit report errors: There’s no need to add to your troubled credit history with errors on your credit report. Get a copy of your credit report from each of the three major credit reporting agencies: Equifax, http://www.equifax.com; Experian, http://www.experian.com; and TransUnion, http://www.tuc.com. If you encounter any errors, inform the CRA in writing what information you believe to be inaccurate and request deletion or correction.

Save your money: ValueLoans.com may be more willing to loan you money if you’ve saved up a considerable amount of money for a down payment.

Live within your means: Even subprime lenders won’t risk loaning you money for an opulent oceanfront mansion. Think small when the time comes to look for a home. Smaller homes often means smaller mortgages.

Remember: ValueLoans.com want's to develope a long term relationship with you. We know that the bankruptcy won't haunt you forever. If we can loan to you...we will!              

Automated Mobile Home Loan Quote Form

Our manufactured & mobile home loans automated quote form allows you to shop us from the comfort of your own home without speaking to an office loan coordinator or account executive yet still receive a best estimate of our rate, term and/or availability based on your unique situation. Please provide as much information as possible. Thank You for making ValueLoans.com #1.

Your Name:
Year Of Mobile Home and Whether it is a Single, Double or TripleWide?
Rate Your Credit? Poor (Lower Than 599), Fair(600-660), Good(661-699), or Excellent, (700 & Above).
Is the Home on Land, In a Park, Private Property, Leased Land, in a Coop Community or Other?
Is This a Purchase, Refinance For A Lower Interest Rate Or Cash Out / Debt Consolidation Refinance Loan?
Income Per Month And The Source: W2,s, Retirement or Self-Employed
State:
Amount You Would Like To Borrow And Value of The Home? For New Purchase Loans Include % down
Phone:
Email Address:
Getting To Know You Section:Please include anything that may help us to give an accurate quote,Including Previous BK, Additional Income, Current Lender, current rate, goals or anything unique to Your Situation.

               VALUELOANS.COM
                           Bringing Value Back To Manufactured Lending!
        877-VALUE69 / 310-534-2041
                          
                                                  RETURN TO HOME PAGE

                                       Or visit our parent and sister companies

                LoanJunction.com            MobileHomeLoan.biz        USAParkLoans.com
                   The Manufactured Lending            Where Mobile Home Loans are       Focusing On America's In Park
                     Pioneer Who Began It All.                       Our Only Business!              Manufactured Home Financing!

                      I-MobileHomeLoans.com                 GreatMobileHomeLoans.com
                   The internet one stop shop for all that                   The Name Says It All. Nothing But Great
                         is Manufactured Finance & Refinance.                    Manufactured Home Loans Nationwide.

           BadCreditJunction.com      EZMobileHomeLoan.com     NewHomeJunction.com
            Offering 2nd chance mobile home        America's easiest mobile home     Providing new manufactured factory
            loans to troubled credit borrowers                  loans...guaranteed!                 homes and realtor listing services. 

                                  E-MobileHome.com                      Chattelloan.com
                           When it comes to mobile homes and                   Offering low rate & low fee                         
                                    mobile home loans we won't be beat.                 loans on moveable property.
              
                          QuickMobileHomeLoans.com                FastMobileHomeLoans.com
                     Quick is the way we process our chattel loans.             Close your in park loan in as little as 7 days
                         Ask about our on time loan guarantee.                          upon receipt of all your paperwork.