Have you have ever tried to finance a mobile home manufactured before 1976? You probably felt like it would be easier to sell snow cones in Antarctica! Fortunately owner financing and private mortgages offer creative alternatives for hard to finance mobile homes. When purchasing a new mobile home financing is often offered through the dealer or retailers. Approved … [Read more...] about Owner Financing – How to Finance Older Mobile Homes
Archives for 2009
Three Challenges to Mobile Home Loans
If you think the credit crunch has made it hard to obtain a home loan just multiply by 10 or more when searching for a mobile home loan. Mobile homes can provide affordable housing options but are continually turned down for bank loans leaving sellers and buyers searching for alternative financing solutions. … [Read more...] about Three Challenges to Mobile Home Loans
Cashing in on Experience – Using Master Broker Services
Whether you are new to the industry or a seasoned veteran, a helping hand is always appreciated. This is especially true when entering into the owner financed mortgage industry as a new note broker. Why spend years recreating the wheel to gain the knowledge you need to make money today? Take advantage of the knowledge, experience and volume pricing offered by a Master Broker … [Read more...] about Cashing in on Experience – Using Master Broker Services
Owner Financing – Why Balloon Payments are Good for Mortgage Notes
A balloon payment is a common addition to an owner-financed note, mortgage, trust deed or land contract. Savvy sellers, real estate professionals, and note brokers know this is by design rather than accident. Here’s why balloon payments can be good for mortgage notes: (Editor's Note: Please be sure to read the updated comments at the end of this article pertaining to changes … [Read more...] about Owner Financing – Why Balloon Payments are Good for Mortgage Notes
Owner Financing – Avoiding Balloon Mortgage Pitfalls
Using a balloon payment with owner financing can be a valuable addition to a mortgage note or land contract. Unfortunately many sellers and buyers unknowingly combine a balloon payment with high risk factors turning a positive into a negative. Be sure to avoid these common pitfalls when considering seller financing with balloon mortgages. Five Balloon Mortgage … [Read more...] about Owner Financing – Avoiding Balloon Mortgage Pitfalls