Mobile Home Loans

to me or our children. We have simply grown apart and I’m terribly unhappy. We had a small business get taken down by the current economic conditions and I am simply asking him to split our debts in half and allow him to walk away with his 401k, his full retirement and all of his social security. He’s worked for the same company for nearly 20 years and has built a fairly sizeable amount. All I’m asking for is to keep the house which has little to no equity so the kids can remain in their home. I have NOT asked him to pay anything towards the house payment and have requested NO allimony and have asked that child support be the minimal allowed. He is very upset and is an emotional wreck and I fear he may have a nervous breakdown. He says that if we split he is “broken” and will simply quit his job and forfeit on his part of the debt which was in both our names. I can not refinance the home and I know if I were to miss payments it would hurt his credit but my fear is that he does simply quit his job and not pay his part of our debt and then the creditors will come after me. I honestly believe in the state of mind he’s in he will quit working and he won’t care what happens to his credit. He’s been in a very stressful job that he’s wanted to leave for years but in order to pay these debts he’ll have to keep it. What happens if he does not pay his part? The loans are in both of our names and I’ve been told that if he forfeits since we entered into the debt together we’re still BOTH responsible.

Just calculated all my CC debt and I have a grand total of $2450 in debt. I also have to pay tuition next semester which will be another $2,000. So $4450 total. This CC debt is hanging over my head and annoying. I just want to get rid of it once and for all!

I have been offered a loan of $8,000. My minimum balance per month would be $280. I would take the $8,000 to pay off the $4450 debt which leaves me with $3,550 in my bank account. With that $3,550 + my current bank account balance + work I will pay the $280 per month.

…Then I will not rip up my CC cards (3 total) but I will just straight up not use them. Actually my highest balance is on my Best Buy store card (bought a laptop, a desktop, and an HD Canon over the last 6 months)…..

So do you think it is a good idea to do this? I do because I will pay off and “consolidate” all my debt into one payment a month. Instead of worrying about 4 due dates I’ll just worry about 1….Not to mention this loan will boost my credit score and report (which is good so far, not one missed payment or late payment, staying below 35-40% of my max credit limit at all times)….

Here is the good part. I recently was approved to buy a foreclosed home. I believe I can get (renting it out) $800 a month. The problem is I am waiting on the bank to get the paperwork together so I can use my money from my checking account (yes I have enough to pay off all my debt listed above + way more) BUT I want to use this money to pay for the house THEN LATER when the house is paid for + repairs worry about the $2,000 in debt. It has been a few weeks since the bank accepted my offer and I am hoping any day now they will have the paperwork ready so I can get a tenant in there.

So the good news is (hopefully just before Xmas) I will have an extra income of $800 a month which will by itself pay for more than the min. balance of the loan each month.

Since I said I would have roughly $3550 of the loan money left after I pay my debt I will use this + the first months rent + the deposit from my tenant to pay a large chunk of that $8,000 debt off (probably $6,000). Then from that point I will go on with my life and business and only owe $2,000 on the $8,000 loan which I will pay off quickly. Now I spoke with the lender and they said if I paid the loan early I would barely pay any interest whereas if I pay over the life of the loan I will pay the full interest.

…Then several months down the road I will try to talk with my bank on getting a home equity loan (to use to buy a second foreclosed home)…

What do you guys think?

I am trying to pay off debt.using equity on my home. preferably not an equity loan.

2.6 Shauna Washington started a business to sell art supplies and related curricula to home school families. The business grew quickly. with sales doubling three times during a five-year period. At that point, she sold the business because it had grown too large to manage from here home. Under the new owners, sales doubles again during the next two years. Profits, however , did not keep pace with sales. in addition, the firm had borrowed heavily to open a warehouse. Inventory costs and operating expenses at the warehouse were higher than anticipated, and the monthly payments on the loan were proving to be burdensome. Recently , the number and amount of past due accounts have risen dramatically. Together, these problems have created a severe cash flow problem. If the cash flow situation does not improve quickly, the firm may have to declare bankruptcy, even though sales are continuing to increase.
Required
describe some of the information that a good AIS could have provided for this firm and that, if provided in a timely manner, could have helped it avoid some of its problems.

thank you in advance for your help.

Meet my friend, he is one very very pissed off person. He is a volunteer for the British Red Cross, He works in the medical loans department loaning out things like wheel chairs etc to people who are in a short term need. The Red Cross do not charge for this service so that they can reach everyone. Yesterday, he had a phone call from a person who was looking to loan a wheelchair for his grandmother in ********** During his conversation a few things cropped up, he being ex RAF found himself having a conversation ex serviceman to serviceman. It turns out this person works with people who are responsible for wounded Soldiers on their return to the UK . He talked about the superb treatment they get at ***** **** and the amount of rehabilitation that goes on there. Then came the bit that really pissed him off, one of the questions he has to ask is “how did you find out about our service?” The answer astounded him, apparently, they use the red cross to loan wheel chairs for the use of wounded service men and women when they are not at ***** **** . Imagine the bomb shell, a wounded Serviceman cannot get out and about without the support of a charity that is designed to meet a short term need. MP’s can con the tax payer out of thousands of pounds on their expenses, yet the Government cannot provide wheel chairs for wounded servicemen and women. Just think what the ramifications are to our troops then maybe like me you will be pissed off and want to do something about it. It would appear, that it is fine to get yourself maimed in the line of duty, but don’t ask for the use of a wheelchair at home. What other country would put up with this sort of nonsense.
Soldier…the red crescent ? why didn’t I think of that?

I have great credit. My 3 scores are 802, 783, and 766. Admittedly, I have several inquiries in the last year because I attempted to refinance my 2 car loans. For some reason I was denied on those as well. Recently, I wanted to transfer $3200 from a Discover card to a 0% interest Cap One card but they declined me too. Besides my home mortgage and small balance on a HELOC, I don’t have any other revolving debt. I do have a couple of high limit credit cards but rarely use them. The only thing I can think of is that my HELOC has a high limit ($175k but I only owe $20k) but was suspended over a year ago due to declining home values. I can’t take additional out on that line if I wanted to. Is it possible that this is hurting me? I don’t see anywhere on my credit report that shows it’s been suspended and it’s categorized as revolving debt. Nonetheless, I figured I was one of the good borrowers lenders look for. Any Ideas??? I appreciate your help.
Like I said…I have a great deal of credit extended to me but I only owe $3200 on one card and my mortgages. Never been late…not even 30 days.

right now i’m getting financial aid in forms of grants and loans. i have yet to get a work study job. i been trying to get a job but i can’t i currently have ajob right now which i hate but i only work one shift. i live in a dorm right now and i go home on the weekends and that’s how i’m able to keep this job i have right now. i have medical bills i have to pay. i was in the hospital and i’m wondering if i should use file for bankrupcy. you don’t really have much of a choice about medical bills because if you get sick you go to the hospital and as you know hospital bills get expensive. you don’t think “oh i might not be able to afford this so i’m not going to go” bec. your risking your life. i already had something go into collections and from what i heard it takes 7 years until it’s removed so my credit is pretty ruined. should i might as well wait until i graduate from college or get a better job to pay these bills off? should i file for bankrupcy?

I have a 7% interest only and my home is worth around the amount of my loan. I have been turned away and emotional beat up making discussing the modification difficult to handle amongst other financial difficulties. Any stories?

NIck Timiraos and James R. Hagerty report:

The Obama administration blessed the proposed extension of the $8,000 tax credit for first-time home buyers on Thursday as the Senate neared a compromise that would extend the credit to more potential buyers.

Here’s a primer on who might be able to get the expanded credit, and what it might do for the housing market:

Who gets the credit, and how much can they claim? First-time home buyers are eligible for up to $8,000 on the tax credit, which is the same as the current credit. The Senate version of the bill creates a new credit of up to $6,500 for homeowners who have lived in their homes for five years. That provision would start on Dec. 1.

How long will it last? The tax credits would expire on April 30, 2010, but home buyers under contract by April 30 would be able to qualify as long as they complete the sale within 60 days. Keep in mind, this would be the third iteration of a home buyer tax credit that has been in place since mid-2008. Sen. Johnny Isakson, the Georgia Republican who has been a staunch advocate of the credit, promised that this would be the “last extension” of the credit, according to Dow Jones Newswires’ Corey Boles. “Tax credits like this only work by creating the sense of urgency to take advantage of it,” Sen. Isakson said.

Will the tax credit do anything for the high-end of the market? Probably not. The tax credit phases out for home buyers with incomes above $125,000 for single filers and $225,000 for married couples. Also, homes that cost more than $800,000 aren’t eligible for the credit. Overall, the tax credit is likely to generate only a modest further increase in home sales, says Tom Lawler, an independent economist in Leesburg, Va.  For many well-paid people, he says, it won’t make a big difference: “A household earning around $150,000 is likely to buy a home of $500,000 plus, so a $6,500 credit won’t be much of a factor in pushing such households off the fence.”

What other limits does the credit have? Toddlers are out of luck. Last week’s congressional hearings spotlighted concerns about misuse of the credit, including some 500 tax filers under age 18 who had claimed the credit.

So will the expanded tax credit help sales? That’s a point of debate among housing analysts and economists. Alec Phillips, economist at Goldman Sachs, notes that expanding the credit to people who already own homes doesn’t necessarily make a big dent in the supply of housing on the market. “If these ‘step-up’ buyers already own a home and sell it to finance the new one, that hasn’t reduced the amount of inventory for sale,” he says.

But Mark Zandi, chief economist at Moody’s Economy.com, thinks the extension is a big deal. Based on a preliminary analysis, he said it should mean at least 500,000 in additional sales, atop the 400,000 he estimates already have been generated by the tax credits (twice the Goldman estimate). “The tax credit is not a very efficient tax cut, but not extending it would do significant damage to the still fragile housing market,” Mr. Zandi said.

Readers, what do you think?  Is this going to help the market, or is it simply reinflating a bubble?