It is going to depend on the bank. Some banks have had bad experiences with mobile home lending and therefore don't lend on them anymore.
Most mobile home dealers either can tell you which banks will loan on a mobile home or they willprovide other lenders for what is called a land/home package.
Bottom line is that this is very doable.
Hope that helps
You have the deeds before you have bought the land? This sounds like a con trick without going any further into it, consult a solicitor. Unless you can afford to lose the money give it a miss.
There are a couple of items that need to be cleared up here. Has the title to the mobile home been purged? What this means is that the mobile is no longer personal property, it's not considered real property. If that's the case, you can't really sell it without the land due to the fact that it's no longer considered a motor vehicle.
Let's assume that the mobile home has not had it's title purged. Is the loan attached only to the mobile or to both the mobile and the land? If it's attached to just the mobile, then yes, you can sell the mobile alone and let someone take it with them. If it's attached to the mobile and the land, you need to talk to the lender and see what remedies you have. In this case, the loan is probably more than the mobile alone is worth, so you'd have to come up with cash to pay off the loan (and therefore to get the title to the mobile) if you sold it.
You state that the mobile home is on a permanent foundation that is cracked. If you sold just the mobile home, the buyers will not have to repair the foundation, as it wouldn't be left in place. But, if it's on a permanent foundation, probably you would need a crane to remove the home from the foundation. Are the wheels still attached? Who's going to pay for the crane and the wheel assembly? The buyer? You?
It sounds like you just need to either sell the whole thing and buy some other land to keep or just keep the whole thing. I do think you're right about the foundation cracking being a difficult item to overcome, so you're probably going to have to keep the whole thing.
Best of luck to you!
Glenn is right. Just advertise and sell it like you would a car.
Mobile Homes are not considered real property. They have to be registered and licensed through the Department of Motor Vehicles (Bureau of Motor Vehicles in some states) just like a car whether they are on a permanent foundation or not. When you sell your mobile home you need to have a Bill of sale signed by both parties and taken to the DMVor BMV. You need to disclose that the buyer either understands that you will be entering the property (land) not the mobile home to tend to the animals and to use the workshop or that the mobile home be removed (which would be costly to the buyer). Make sure you have a document stating the above and have both of you sign it.
legally in Texas that is more like selling a car. There is no real estate involved so it can't even be listed in the MLS. I would contact a mobile home dealer and ask them what they suggest.
Most banks and mortgage company don't loan money for raw land. They never feel that the land is collateral enough to secure the the loan. Land values are usually more volatile than home values. You might want to rethink taking out a second mortgage on your home.
I know pretty much through out the whole Northeast you can't get a bank loan on land unless it's a commercial property and you have a development plan - and even then it's tough.
Some banks might consider a loan on land if you have a large sum of money on deposit (once again some form of collateral). With credit tightening and few old timer around who can remember the S&L scandel of the 80's ( pacels of undeveloped land was boundered back forth between banks at inflated prices to create "assets" that only existed on paper) your chances of getting a loan are slim.
Why can't the owner of the property hold a mortgage on the land? Let's say 125k down, the balance at 10% interest for ten years? Or 125k down, the balance at 10% interest on a 30 year sehedule with a ballon payment at the end of five years?
your local bank will give you the best deal on this...they keep there loans in their profiles and with it being local they will be able to see value in what you are buying compared to a company across the states
Are you looking to later develop the property as owner occupied or is it commercial?
If it is owner occupied-You might consider looking into a 1x close construction/permanent loan that would allow you to include that cost of the land and begin building with a loan based on the appraised value of the project when complete.
.
If it is a commercial deal - Most banks will not touch a raw land deal- But as a broker I have access to a few lenders who would look at it. But I would need some additional information to be sure that the 25% down would be enough to qualify.
Feel free to contact me at
1. They had to live on the land all year long.
2. They had to farm the land for five years in a row.
3. They had to file a claim with a bank.
4. THey had to whel portable cabins from plot to plot.
1. They had to live on the land all year long.
1. They had to live on the land all year long.-
Unless the seller is providing the financing, they don't care how you pay.
The seller gets the money at closing.
The rates are higher as it won't be a mortgage, and they typically have different terms. It depends on the lender.
Financing
You can get financing, but it would be secured financing and the loan would be secured on the land, so if you fail to make the payments, the bank would take the land.
Any time land is sold, there must be a title/or deed involved. For the current owner to be assured he will receive full payment for what he is selling the land for, there is usually either a negitiated down with a promise to pay xxx amount until the note is paid in full. Owners have the absolute right to ask 100% of the asking price upfront. It is up to the prospevtive buyer to then seek that amount from some lending institution. You will then have to offer the land title up for collateral until the loan is paid off. . If you default on the loan, the note holder gains the title, but the original owner has alreadt received his asking price, so he is then no longer a factor.
But, what do I do legally to enforce this land contract for deed? Should I just hire an attorney? My mother knows all of this information but I have not been able to talk to her for 2-3 days.
yes go see a legal aid have them look at the papers
ALWAYS hire an attorney when dealing with real estate.
Rent it out, find another job in the area, reduce the price more.
try a short sell
its really no different than if it were a house buy. you find a lender who takes mortgages on your type of deal. they usually want a bigger down payment on a mobile home deal
It is tough to get a mortgage for vacant land, and it is tough to get a mortgage for a mobile home. With septic, well, closing costs, etc., you are looking at roughly $50,000. If you can get a 10-year mortgage loan for $30,000 of that, you will be doing well.
You need more down payment. And be sure you have enough for all your closing costs or you are going to be paying interest on all that for years to come, and that just makes it harder to get approved.
The very first thing you do is check on the zoning of the land and make sure you can put a trailer on it and then you check to make sure you can put a septic system on the property. Lacking either one of these two preconditions you could wind up with a mess on your hands.
The answer is a qualified "yes." You can connect your lights and appliances to X10-based switches and dimmers, and use the X10 Telephone Responder to control them remotely by phone. This will not allow you to turn on a microwave, because microwaves require their buttons to be pushed. But you could control lights, appliances and HVAC remotely with the right X10 receivers connected. See the links below for some phone-based controllers.
home own insurance is ONLY for house , never for land.
how ever once u rollover land in to house mortgage not construction loan , the insurance will still be on the appraisal of the complete package.
they maybe talking Private Mortgage InsurancePMI which covers bank if u do not have real money down (not appraisal money)
What would happen if a couple of kids were playing on your lot and got hurt or someone tripped and fell on your lot? They would sue you. Thats why you need insurance on the land.
When I was building the contractor had to carry the insurance until we occupied the home.
As far as appraisal money on a new construction. They will take the appraisal into consideration when they determine the loan to value ratio, this will determine PMI. Since their is no selling price, they have nothing else to go by. At least that is how BofA, USSA, and all the local banks in my area do it.
For my construction loan they rolled land loan into the construction loan. They wouldn't do it any other way, unless the land had no lien on it. The issue is if you default on the loans what would get paid first the construction loan or the land loan.
If the bank you use has a Greece office (or even an office in an European country which uses the Euro), then I think that when you withdraw funds from that location, it would be deducted in Euros, even if you funded it with pounds in England.
i am buying in spain and talking to imsfx and they seam quite good as i have had bad experiences with another broker and hifx arent doing smaller trades under £3k
its best if you open an account there and then ask them for online telephone banking, if not speak to your bank asking for two accounts stating that you will use one for greece and other for uk
if you are just sending money it is a lot cheap thru western union
a few pointers make sure the land you are buying is owned by the seller. there is no land grab going to happen [that is the govnt don't want your land for motorway or to turn it into national park land in which case you lose house and land.]there are so many pit falls.hope you have a legal specialist that knows greek law.
So what happens to the home? Will the bank take the house?
If you broke ground on this supposed house and built it on a foundation or pilings, then it becomes a part of the property as your county assessors office includes the land and house as well in your tax assessment. The same as if you pay cash and install a pool, it becomes part of the property, so yes it all goes.
If it was a mobile home that is personal property and if the land was in someone Else's name then they could repo the trailer the same as a car and the land owner keeps his lot. If it was your land as well paid for separately then they could let it sit and sell it like real estate.
Usually your land is considered collateral equity against your mortgage when they assess your assets. So yeah, if you don't pay your mortgage, the bank will take your house AND the land, towards the amount you owe. If the house is worth a million dollars, you'd better be putting your cars etc. in other peoples' names too, because your cars, as assets, can be confiscated by the bank towards any outstanding liens. Watch yourself!
The legal definition of property includes 'land'. So if your home is foreclosed the land will be also. The bank will be entitled to the land and the house.
anything attached to the land is also lost...ex boyfriend had it happen to him
When a home is mortgaged the land it sits on is also mortgaged. If the house is foreclosed, so is the land.
Technically, only if you mortgage the land to finance the building of the home. However, most, if not all, lenders will not issue a Deed of Trust on a construction loan unless their lien also attaches to the the land. Otherwise they would have to move the structure or sell as is, where is and that would diminish the forced sale value of the property. Consult a real estate attorney.
thank you!
R
________________
|\
|_\
|__\..........river wide = w = 1 km
|___\
|____\
----------------------------
..........P...............T
|
note that :
R = refinery
P = point of pipe on north bank
p = horizontal distance of P from of refinery
T = location of tank
note that we can find the length of pipe under the river (RP)
using pythagoras method
RP^2 = w^2 + p^2
RP^2 = 1^2 + p^2
RP^2 = 1 + p^2
RP = (1 + p^2)^0.5
The cost of laying pipe is $200,000 per km over land to a point P on the north bank and $400,000 per km under the river to the tanks
the cost of pipe (C) can be written as
C = 200,000(PT) + 400,000(RP)
C = 200,000(10-p) + 400,000((1+p^2)^0.5)
cost is minimum when dC/dp = 0
C = 200,000(10-p) + 400,000((1+p^2)^0.5)
dC/dp = 200,000(-1) + 400,000[0.5(1+p^2)^(-0.5)*2p]
note :
if C = 10-p
dC/dp = -1
if C = (1+p^2)^0.5
dC/dp = 0.5(1+p^2)^(-0.5)*2p
you know how to get it, don't you??
dC/dp = 200,000(-1) + 400,000[0.5(1+p^2)^(-0.5)*2p]
dC/dp = 200,000(-1) + 400,000[p(1+p^2)^(-0.5)]
to obtain minimum value dC/dp = 0
0 = 200,000(-1) + 400,000[p(1+p^2)^(-0.5)]
200,000 =400,000[p(1+p^2)^(-0.5)]
0.5 = [p(1+p^2)^(-0.5)]
0.5(1+p^2)^(0.5) = p
square both left side and right side
0.25 (1+p^2) = p^2
1+p^2 = 4(p^2)
3p^2-1 = 0
p^2-(1/3)=0
(p^2-0.333)=0
(p+sqrt0.333)(p-sqrt0.333)=0
p=-sqrt0.333 or p=sqrt0.333
p=sqrt 0.333 because length cannot be minus
p= 0.58
so P must be located 0.58 km east of refinery
i hope you'll understand
it's so difficult to write equation in here :)
You don't... apply for jobs like everyone else. Then consider a follow-up call to their HR department.
No, sue the school. Then maybe you can get some satisfaction.
I went to RAA, and now I don't have an airline job, I'm in a $120,000 debt, and can't get out of it!!!! http://answers.yahoo.com/question/accuse_write?qid=20070315101003AA1ZuqA&kid=AYZMJTH4Ek8hZHR7toss&s=comm&date=2008-01-17+11%3A50%3A44&.crumb=
Expect all of the above to have significant down payment requirements. You're probably not going to get 100% financing or anything close to it.
ues yahoo search keywords: land loan
Most all banks will do a land loan....
You will get alot of hits, and a better understanding of what you want to do. Or you can use a Broker, and a Broker only pulls your credit report 1 time, and lenders will use his/her credit report, where as if you shop around, and 1 place pulls your credit, and they can't do the loan, you go elsewhere, and that person pulls your credit (see what I mean). Even though it is considered a "soft" pull, over a 30 day period, it is the same as shoping for a car - that is considered a soft pull. BUT, apply for a credit card, gas card, etc and that is considered a "Hard" pull, and will pull your credit down.
I work with several lenders who do Land Loans, they are out there.
I suggest you consult with a professional Mortgage Planner to discussion your needs, situation, and goals. Have you found the land already? Do you have a down payment? Do you know your credit situation? Lot's of unanswered questions...
you didnt your state . but many banks will do this there is a world wide bank but the best bank i have read on is . the bank of mingo. . in williamson.w.va. . they have many branches and are very good to do transchations. with in my opion. ?
You can do a land lease. Although they're not common in the US, they are very common elsewhere in the world (Hong Kong was built on one). Generally they're for 99 years, and a bank SHOULD have no objection to a 30 year loan. However, this would not be a conforming loan, so not every lender will want to bother.
land lease.
no
you should better ask and set up a contract.its safer for you and your family before he is coming to burn you house and you and your relatives has to sleep under the brigde.
I don't think there should be a problem with you building a house on a relative's land. However, you may want to get this in writing just in case in the future, you're in a situation where you need proof of this. For example - if the relatives pass away.
yes you can, but there could be consequences
illegaly can, legally cannot.
no
Weekend means only weekend it has got nothing to do with bank holidays
Nope... only weekend... which don't include Bank Holidays...
Wow that's a rip off! I live here in Seattle and we have a company called Travel Exchange. They are in the mall and exchange money for much less than that. I wish I could help you further but know nothing about Chicago.
call them and find out.
huh??
more details needed.
Realistically speaking, I think it is hard to do something like that now. The people who reside there have already established a life there for themselves. I think they did remove a bunch Israel people from the Gaza strip a year or two ago. I don't have the exact date.
read your history. isreal is defending thier citizens, they are not slaugherting the strip. there may be a date , happens to be my birthday november the ninth. mine 1946, the important one 1938. of course there was no holacoust. isreal is sending warnings to the murders. to hades with the warnings. right to the ocean. play the game under hammas rules.
What do you mean. The West Bank has been given back. The Israelis were recently evicted out of their homes there.
But don't be decieved , rockets DO come from the West Bank, one on New Years day I believe? Anyway, I think you need to read up on the West Bank.
Because Israel needs land as a buffer zone to the terrorists. Look what happened when Israel gave back the Gaza strip. The terrorists loaded up with weapons in Gaza,and have been attacking Israel for months.
Zed you Zionist stop adding to these questions because you don't have anything credible to say.
How could they make Israelis leave their homes?? ITS NOT THEIR LAND!
Damn, Zionists are arrogant!
If you mean returning to pre 1967 boundaries, security. The Golan Heights would just be used to launch more rockets.
It's impossible to draw T-accounts here, so it'll have to be by narration.
Cash account-
$85,000 on the L side of the T, $45,000 on the R side of the T, ending balance is $40,000 debit
Bank loan (Eastern Bank) account-
$85,000 on the R side, ending bal. is $85,000 credit
Land account-
$45,000 on the L side, ending bal. is $45,000 debit
R = Right (credit)
L = Left (debit)
The lecture on T-accounts at the link is very helpful.
if your useing the autopilot dont.....fsx, fs2004 or any of them will not land the plane by themselfs
if your doing it without the autopilot try useing the rudder input a little to stay on the center
another thing you might be coming accross cross wind (everytime you land i doubt it, but hell anything is possible)
Just autopilots!!!!!
get fs 2004 or fsx, i got them!
and also check some of my landings they may help..........
1. check the advertisement in existing ATM
2. contact admin manager in the city
3. contact facility manager / admin manager in head office
Usually, they will contact you. Places to locate ATM's are very particular. It depends on what side of the street you are on in relation to peak traffic periods, the socioeconomic status of the area, and whether or not they already have the desired concentration.
Rub a lucky rabbit's foot.
redefine your priorities.
I just finished a stint in i-banking and it is hell. Cannot pay me to spend that much time in the office.
And when your f@!*ing MD/director/VP continues to do reiteration after reiteration of the same pitchbook, it will make you want to jump off a cliff (or out the office building).
Not worth it...
It would have to integrate with Israel economically, certainly not culturally or religiously, but economically. I could see Israeli firms outsourcing work to Palestinian firms that could do it cheaper. There would have to be currency agreements, a fair judiciary, and other enhancements that countries looking to develop implement. It would make sense on a lot of levels.
I understand that you don't want a politically biased answer, so please take this answer with a grain of kosher salt, hehehe!
If the biased state of Israel has things her way, there will never be peace in the middle east; so even if the West Bank does overcome its immaturity and develop into a sovereign country, it would have to also overcome the mindset of the its neighbor to the West!!!
The generic mindset of Israelis is that of an arrogant people! In lay men's term, that would be snobby or stuck up, and all superior!
Sorry, you didn't want a politically biased reply.
To be succint, let me say that if Israel stays out of Palestine, AKA The West Bank and The Gaza Strip, and stop its embargoes and its blocking of goods from reaching these territories, they can become independent and survive on their own and possibly, in time, mature and prosper. Will Israel do this? I myself am reluctant to think that Israel truly wants peace and tranquility in the region.
By the way, The land was occupied by Jews, Christians, and Muslims, so anyone who says, "its not their land," is truly uneducated, regardless of what faith they are. This land has been inhabited by all peoples over the years. In fact, it was upon Israel's inception that Palestinians were exiled from their homeland. So I guess it is okay to do genocide onto others if someone did genocide onto you!!!!
I hope that you all take this on a grain of Kosher salt!!!!
It would have been a few years ago, but it is getting smaller every day. Israel is chopping it into pieces to build more jewish settlements, so travel from one part of the west bank to another is increasingly difficult.
If Israel withdrew even to the 1967 borders and left the west bank alone, it could survive and become relatively prosperous. .
http://www.antiwar.com/porter/?articleid...
http://www.youtube.com/watch?v=SILJxPTqj...
http://www.youtube.com/watch?v=KntmpoRXF...
http://www.lewrockwell.com/orig8/fisk5.h...
http://www.lewrockwell.com/margolis/marg...
Take some time to read these articles. It's worth it.
Hamas abided its terms despite the fact that Israel never met them.
It is hard to have a viable nation when you have a birth rate as high as the Palestinians do. The average birth rate is slightly over 5 kids per adult female. Hard to improve the standard of living with a birth rate like that.
I guess so,
it can have ties with neighbors like jordan and syria and also with israel,
the bad thing is that some parts of west bank are under occupation after 67 war,
takes lot of time and effort to make peace
If you follow this map
http://www.passia.org/palestine_facts/MAPS/1947-un-partition-plan-reso.html
it would be possible to build a viable state.
practically, yes. politically, no.
Therefore....NO.
