Farm financing hoop jumping

I earlier posted that the bank makeing the 100% load said thay wouldnt loan a dime on a mobile home.

100% loaN, that is lol.

I guess I'm confused or missed something? So you need to buy something with a stick built only? Why the talk of looking for a used mobile home to pull on since it sounds like that won't fly with the bank?

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Idleness is leisure gone to seed

Im talking to at the moment my bank, the bank which said theyed loan the 100% on a stick built only, and 2 banks that say they will loan on mobiles.

Something you should consider...I know that sometimes, additions you make to a property STAY with the property....you can't just decide, "I put these buildings here, I'll sell them/take them with me". Specially not if you're not selling the property but letting it be re-poed.

Best check your laws first.

Mon

These buildings are/were NEVER fastened down TO the property. There standing on the property just the same as any pickup, truck or tractor that I own. Matter of fact. There standing free ABOVE the property, on concrete blocks, whereas the vehicles are directly on the property.

People take mobile homes off of property all the time. AND there usually fastened down.

I guess you're not wondering why banks don't want to finance mobile homes, then.

Generally, a mobile is NOT considered part of the real property (it is then personal property) IF you left the axles on it AND bought it seperate from the property....and that is a very loose intrepretation...then you could take it with you

As I say, it doesn't hurt to check, rather than find out AFTER that they were not yours to take. And I imagine with a lot of heirs to divide the property, they're going to want all the $$$ they can get off the property, and if they sue and take whatever you just bought and that sends your happy tail to the county poor farm, that's really no concern of theirs.

Mon

Theres only 2 heirs, and I barely know them, as they were young men when I met them 30yrs ago. There getting the land back for resale, and that will be that.

And yet you complain that your ex wives didn't want to farm--I think they wanted a home that wasn't brought in on the cheap, just a bunch of sheds, put together "kinda", settled onto concrete blocks that could be moved away any time at your whim. Running water probably would have made them much happier but you made no effort to make that happen even for yourself. You honestly don't get it. That you have a normal sounding DS and DD who seem to know about normal houses amazes me. More stuff to say? Sure but putting the gag order on myself...

Only one X lived there, And it served her right. She made me sell a 40 I would have had paid for 20yrs ago, that had 2, 2 story houses put together. had fantastic running water, bath, the works. Had a barn, a garage with attached storage shed, a small hog house, a big chicken house, a small grainery/corn crib with attached shed. House had partial basement over the origional house, 2 portches, both enclosed, kitchen, pantry turned into bath room, dineing room BIG liveing room, and 3 bedrooms upstairs. She didnt want to live in the country, and at that time the county didnt take care of the county road. They do now, OR did.

Boy, would I like to hear her side...

O Well.

Actually, the kids are a credit to his wife, because she raised them.

Mon

Most of us have figured THAT out a long long time ago. Your basically wasting your fingers typing a response

Mammy, Id be glad to give you my DDs addy sos you could ask her about me and my influence in her life. Boy dosent have a puter, But id stand by waht he had to say also.

FBB, consider this......

Arvest (there is one in Sapulpa) will loan 100% of the purchase price on raw land. Find a tract of land you like & purchase it. Once you have the land acquired, visit one of the manufactured housing dealers in Tulsa. Pick out the hacienda of your choice (new, used, foreclosed, etc.). They will assist you with financing, delivery set up, septic and water.

You may wind up with two loans. Just a thought.

Good Luck!

Nope. i came to raw land when I came here. I was 32. Now im double that. Id never do that again, and wished I hadnt in the first place. It set me WAY back just trying to get the place up to where it could be called a farm. Which I never really did. It still dosent have water, a barn or grainery, hog house, ect.

Bill, if you can't muster up a down payment you really cannot afford a new place. Could you live with your sons while saving up for a down payment? What will you do when something bad happens? Roofs need patching, wells need new tanks, winds blow barn siding away, etc. In the last two years we've had to repair our furnace, replace our furnace and heat pump, temporarily fixed roof, added gravel to our drive, and replaced several well parts. Our roof needs to be replaced and our barn roof needs to be repaired. We also need to repair our fencing.

I wouldn't offer you a loan if I knew you weren't up to date on current loans. Have lenders actually pre-approved your loans? I'm afraid your problems will follow you up the proverbial creek.

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Moms don't look at things like normal people.
-----DD

I still wonder how after 30+ years there, you don't have any equity much less payed off.

If you do have some equity wouldnt it be cheaper to outright buy the place your on? Turn around and put it on the market, sell take any moneys extra and you should have a down for a smaller place where you want to live.