Need some excellent advice on buying/ selling homes?

Tips and Deals Forums Buying Your Home Need some excellent advice on buying/ selling homes?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 8 years ago.

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    Anonymous

    Long story short- five years ago I was a stay at home mom, living in an apartment in one of the most expensive areas of the US. you could not buy a 2 bedroom house for less than $400,000, so my husband and I bought a three bedroom 2 bath manufactured home which has been great. We have been approved to buy a house and have the down payment and were counting on the management buying our house and then renting it out which they have done many times in the past. The problem is that they gave me such a low offer on my home it was insulting and not even half of what I could sell it for. We are not able to sub lease ( we rent our land and pay mortgage on the home) and would love to rent it out but cant. I also know that no one will buy it right now because the payments would be the same as house. I am seriously considering just buying a house and letting them foreclose on my modular. I know it would screw up my excellent credit which my husband and i have always worked hard to maintain. but I just know now is the time to buy and by the time I sit around and wait for someone to buy my house, home prices will be back up again. Is this a reasonable thing to consider? my options are so limited and I am trapped in my current loan! Any good ideas or suggestions? i am willing to do anything to get out from under this and into a house I have always wanted.

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