lazydazy asked:
fdic took over bank/we have 90 days to refinance or they sell our loan with a balloon note due in dec. but they refinanced it every 3 yrs.when due after first year/we have paid on it for 4 yrs, it is an older trailor on a lot/contacted over 7 places including banks,credit unions,fdic,fed.programs/have been early on payment/what is going on?we owe no other bills/always early/fdic said it was best to refinance/can’t find a lender/what happens now?same job for over 16yr. with the state/nothing from ANB bank was reported to credit bureau so have no credit/saved all receipts and canceled checks/ bankruptcy 8yrs ago due to divorce but have paid everything early since/have checking and a little savings and retirement account/no credit cards/how can it be this way/thanks/any real help appreciated
it was appraised with the land for $28,000.00…the land is part of the note/there are so many people having to refinance here that nothing is available since the second largest bank in ar. failed…..no way to save this much before dec. but thanks
sorry, about the slash marks never done this before…I was trying to save space…won’t do this again…banks couldn’t give us other ideas….loan is totally due in dec. but were told they could ask for full amount in 3 months when sold….the bank failed so the fdic took over and will sell assets…loans are assets…thanks
ROLANDO
fdic took over bank/we have 90 days to refinance or they sell our loan with a balloon note due in dec. but they refinanced it every 3 yrs.when due after first year/we have paid on it for 4 yrs, it is an older trailor on a lot/contacted over 7 places including banks,credit unions,fdic,fed.programs/have been early on payment/what is going on?we owe no other bills/always early/fdic said it was best to refinance/can’t find a lender/what happens now?same job for over 16yr. with the state/nothing from ANB bank was reported to credit bureau so have no credit/saved all receipts and canceled checks/ bankruptcy 8yrs ago due to divorce but have paid everything early since/have checking and a little savings and retirement account/no credit cards/how can it be this way/thanks/any real help appreciated
it was appraised with the land for $28,000.00…the land is part of the note/there are so many people having to refinance here that nothing is available since the second largest bank in ar. failed…..no way to save this much before dec. but thanks
sorry, about the slash marks never done this before…I was trying to save space…won’t do this again…banks couldn’t give us other ideas….loan is totally due in dec. but were told they could ask for full amount in 3 months when sold….the bank failed so the fdic took over and will sell assets…loans are assets…thanks
ROLANDO
TAYLOR
You need to learn how to punctuate.
Comment by Dave — July 23, 2009 @ 6:35 am
ERICK
Sounds to me like you need a lawyer… I don’t think there’s any way to pursue this but with a lawyer if you have your receipts etc., they should be able to help you out, get your credit report fixed up, and find you a loan. But get in to talk to someone asap.
Comment by Amanda Z — July 24, 2009 @ 9:11 am
DOMINIC
try prosper.com, they do 3 year loans and up to $25k
Comment by Swanky — July 26, 2009 @ 12:32 pm
DAMIAN
You did not mention the option of accumulating that much money before the final due date, and paying it all off. It seems that this is a viable option if you can do it.
Finding a cash buyer might be the next option, cashing out retirement savings, selling a car… all of the above.
You have to consider how much the older trailer would be worth. If it is worth less than the amount owing, it is extremely unlikely that any lender would lend on it. In a general way, when home mortgages are this small very few lenders want them. They start to want you to borrow at a personal loan rate several percentage points higher or just pay it off.
Comment by donfletcheryh — July 28, 2009 @ 11:57 pm
BRYCE
I’m a bit confused about your question with all the slash marks, but if you contact a bank, even if they might not help you refinance, they can possibly offer other resources.
You can always try to pay off as much as you can so that when the balloon rate goes into effect, it won’t be so much that you can’t afford it.
If you won’t be able to make that much from work, you could probably earn at least a couple thousand through treasuretrooper.com by December, which would help.
Comment by Melanie K — July 29, 2009 @ 6:10 am
HERIBERTO
Look for a reputable private investor, who will probably want about 8% and you must owe less than it is worth. To locate such a person, talk to friends, family, perhaps even someone the bank can suggest.
These older mobile homes are hard to finance but you have the advantage of owning the land, too, which is a big help.
Your good payment record should overcome the bankruptcy in an investor’s eyes. I personally think you are a very good risk.
You might contact a local SCORE chapter. Someone there might know someone.
Good luck!
Comment by Sharon T — July 30, 2009 @ 4:30 am