I recently signed for a modular house 2008. They told me that they could finance 100% of the house and land. I signed papers and they got started with construction loan and that I would only pay interest while the house was being built then I would start my payments after it was done. Turns out to be that the interest only what im paying is 1,600 on a 189,000 house and land. When the house was done they told me I needed 30,000 down payment for the house. and also im paying interest like if it was already payments and they told me I needed to have insurance on the house, so I did and then utilities such as water and electric had to be under my name and did also. and they said I cant live in the house until I give the downpayment.
Tags: