Pets.ca - Pet forum for dogs cats and humans 

-->

Bank financing

KimandAutumn
June 14th, 2009, 08:42 PM
Does anyone know if you can get some sort of financing to purchase a mobile home (which will be parked on a mobile home park). I know you can't get a traditional mortgage but there must be some sort of financing that is available? I'm basically looking to spend between $20,000 - $30,000.

Here's the situation. My husband went on a trip to visit his family in Sweden, and while he was gone he emailed and said he wants a divorce. So its bad enough I'm losing my husband and my home but I refuse to lose my pets. Rentals are out here; too expensive. Once our house is sold if we're lucky we *may* break even. Market is low and we'll take a big hit for early payment of our mortgage which is locked in until 2011.

Mobile isn't the best, but if I can find something in my price range and a park that will allow animals (some have pet restriction and/or size restrictions) then at least I can take everyone with me. Just can't lose them too. :sad:

growler~GateKeeper
June 14th, 2009, 09:00 PM
K&A :grouphug: I'm sorry you are going through this. :goodvibes:

The Canada Mortgage and Housing Corporation (http://www.cmhc-schl.gc.ca/en/corp/faq/faq_006.cfm#5) offers mortgages on mobile homes - check #5.

Frenchy
June 14th, 2009, 09:03 PM
He told you he wanted a divorce through an e-mail ???? :wall: omg ..... ok , no comment , as I'm sure you don't need to hear other's opinion on this !

I have heard years ago , that you couldn't get a mortgage under a certain amount but if you're looking for something around 20 000 / 30 000 , you could get a loan. Have you also looked at how much the land rental was ? Sometimes people buy mobile home and think it will be cheaper but when you add $200.00 per month to rent the land ....

I'm sorry this is happening , this sucks big time !

I don't know in which area you live , but, if there's more country like than suburbs near , you may find a small cottage (chalet) to buy ?

:grouphug:

pbpatti
June 14th, 2009, 10:22 PM
I am so sad that you are going through this.

Can you get a line of credit with your bank? I have one with ATB and the interest is 1% above prime. If you do this before your ???? gets home then you can use his income and the house that you now own??? not as a secured line of credit though 'cause then they will put a chattel on your house.

KimandAutumn
June 14th, 2009, 10:32 PM
Yep, real coward to do this by email. I'm just heartbroken. I have weighed the pros and cons of a mobile home. I can come up with probably $10,000 as a downpayment and a loan payment combined with lot fees will still be cheaper than a house rental or a mortgage on a house or townhouse. Unfortunately, my sole income is too low so I don't really qualify for much and certainly nothing listed that I've found except condos and about 99% of the condos here have pet restrictions, the other 1% have size restrictions (nothing over 12 inches in height). *sigh* sooo overwhelmed. :(

Dee-O-Gee
June 14th, 2009, 10:39 PM
Please take extra precautions when looking into a mobile home situation.

There has been a great deal of concerns here locally about a mobile home park expecting to close and the tenants are basically left without nothing.

All of their investments and homes are to be demolished next year to make way for new developments. :sad:

Bina
June 14th, 2009, 10:44 PM
Years ago banks would give out 5-7 year loans on mobiles. Good Luck.

LavenderRott
June 14th, 2009, 11:39 PM
I don't know how the economy is where you are, but around here $10,000 will get you a very nice double wide set up on a lot.

I lived in a mobile home for 4 or 5 years. The last year there, I had lost my job and money was extremely tight. I ended up walking away from it because there was no way I could handle the $1,000 a month I had to pay between the mortgage and the lot rent and there was absolutely no way I was going to be able to sell it for anything near the $20,000 I owed.

Please be careful. Mobile homes are not like houses. They do not increase in value and they are very difficult to sell. If you are not careful, bad park management and yearly lot rent increases can get you into a lot of trouble.

KimandAutumn
June 15th, 2009, 12:08 AM
I know but this is my only option or lose my pets. :(

kiara
June 15th, 2009, 12:09 PM
Sorry, I can't help with house hunting. But I'm good with solving people problems. So sad about your situation. He surely needs to be castrated!!! Ha Ha Do you have a friend or family member that could take you and your pets in, for the time being? It is best to wait it out, until things settle down. So glad you decided to keep your pets, they are so loyal to us. Do you have any children? If this will make it any easier. There was a neighbor in our area and her husband left her with five children. What an assxxxx, can you imagine her hardships? The best of luck to you and your furry friends.

kara1
June 15th, 2009, 12:25 PM
about 4 years ago we bought a trailer from country hills homes with a chattel loan and im in edmonton. But we bougth through country hills homes and they have a 1 dog max not over 18 inches and none concidered a restricted breed blaa blaa blaa its hard to find a good rescue dog that fits these needs. I know they have trailer parks all over alberta. we paid less than 50000 for ours and only needed 2500 down abouts what if you could find a trailer on a small acreage. we pay less than $1000 a month with mortgage and lot rent but yes our lot rent goes up every year.

shirley1011
June 15th, 2009, 01:02 PM
Perhaps there might be a private for sale and they could take back a mortgage/loan...sometimes it is a win/win for
both

KimandAutumn
June 15th, 2009, 01:03 PM
No, I don't have any kids, it's just me and the dogs & cat. I am hoping I can convince some trailer park that a 14.5 year old dalmatian and 3 year great dane are of no threat to anyone. I can even get reference letters for both of them as to their obedience skills and good behaviour. I'm a good dog owner, I pick up after them, they are not left out unattended, they don't bark unless some comes to the door. *sigh*

Just hope I can find somewhere to live with them.

Luvmypitgirls
June 16th, 2009, 06:59 PM
Unfortunately most mobile home parks have size restrictions, most I know of have a maximum of 20"-23".

I won't comment on your "partner", because I'm trying hard to live by the motto if I can't say something nice don't say nothing at all. Which is hard for me cuz ....I have a bit of a temper:o

I will say this however, my heart goes out to you, and whatever happens, I will be :pray: that you are not seperated from your pets.



:grouphug: I'm sorry for what you are going thru...I can't even imagine.

pbpatti
June 16th, 2009, 11:36 PM
Hi KimandAutumn, hope today was a little better for you. Are you able to move to a smaller community outside of Red Deer? maybe the rent for a place would be better to manage instead of locking yourself into a mortage/loan at this time.

I am thinking of you.:pray: patti