Anyone out there renovated a mobile home?

Question

As many people know, mobile homes are known for things going wrong. We have owned a mobile home for about 15 years and the roof leaks, which has caused one whole wall to be ruined, and also some floors to rot out. Some have already been replaced. Is it worth fixing the ceiling (which has holes because of the leaks...maybe 3 or so) and the wall that needs replaces? I was planning on gettin a loan to do this. House burnt down a year ago and this has been in my family and the 6 acres it is on. I really would love to live on the property.

also, it is a 3 bedroom 2 bath

Answer 1

USA   The International Residential Code provides guidelines for the repairs you mentioned.  Call your local municipal code enforcement office and ask them what the code requirements are.  That should help determine the extent and cost of repairs.

Answer 2

I wouldn't take out a loan.  The home is at least 15 years old, and has no real value as far as lenders go.  Most reputable lenders won't give you a loan. The time has come for you to think of alternative housing, or waste a lot of your good money for nothing.

Answer 3

Most any construction company will come out and give you a free estimate for the work.  Check the yellow pages, look for the ads that say free estimates, give about 3 of them a call and get an estimate from each then decide what you want to do.  You don't have insurance on the mobile home?  It might cover some of the cost.

Answer 4

Acquiring a mobile home loan is a possibility today even for people with bad or blemished credit scores. Though a few lending institutions prefer to work only with people with established credit, there are several institutions willing to lend to people with bad credit. The first question asked by the lender when approached for a mobile home loan is about the credit score. A credit score of less than 620 often finds problems in acquiring a mobile home loan. A loan might still be given, but the interest charged may be higher. The worse the credit, the higher the interest charged on the loan.

http://badcreditloans.awardspace.com/How...

Making a down payment reduces the monthly payments in interest. However, missing a payment or paying less than the due payments will lead to a serious balloon payment at the end of the term. Today there are several lenders willing to lend to people with bad credit. The entire lending process is a question of perspective. It is dependent on the way the lender visualizes the capacity of the borrower. Hence, if a particular lender refuses the loan, one can shop around. This is applicable even if one wishes to hunt for lenders offering lower rates of interest. It is advisable to get at least three different quotes before deciding on a suitable lender.