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McKoy641 · Sep 29, 2008, 04:13 PM

Due to circumstances beyond my control several years ago, I have terrible credit. I have been trying to get my feet on the ground, working two jobs. I rented a house several months ago but the rent was not going to the mortgage so the house is in foreclosure and will go on auction in 2 weeks. I have my daughter (who's looking for a job), a son (with back injuries) and 2 grandbabies living with me and after reading several of your posts, I see (and am ashamed) that I am considered a "squatter". I'm currently trying to find another place to live but can't find a place I can afford (max $650/mo). I am temporarily on worker's comp due to an injury at work and lost my other job, therefore on "fixed income" but will be able to go back to work in a few months. What I really would love to do is find an investor who would purchase a manufactured home, have it put in Tennessee, let me make payments until I can get my credit straight, then buy it. Is this just a crazy woman's impssible dream?

JudyKayTee · Sep 29, 2008, 05:16 PM

Originally Posted by McKoy641

Due to circumstances beyond my control several years ago, I have terrible credit. I have been trying to get my feet on the ground, working two jobs. I rented a house several months ago but the rent was not going to the mortgage so the house is in foreclosure and will go on auction in 2 weeks. I have my daughter (who's looking for a job), a son (with back injuries) and 2 grandbabies living with me and after reading several of your posts, I see (and am ashamed) that I am considered a "squatter". I'm currently trying to find another place to live but can't find a place I can afford (max $650/mo). I am temporarily on worker's comp due to an injury at work and lost my other job, therefore on "fixed income" but will be able to go back to work in a few months. What I really would love to do is find an investor who would purchase a manufactured home, have it put in Tennessee, let me make payments until I can get my credit straight, then buy it. Is this just a crazy woman's impssible dream?

If you are hoping someone on this board will invest it's a very inappropriate post.

Only you know if you know someone who will do this for you.

McKoy641 · Sep 30, 2008, 04:28 AM

No. She missed the point all together.

JudyKayTee · Sep 30, 2008, 03:40 PM

[QUOTE=Comments on this post
McKoy641 : No. She missed the point all together..[/QUOTE]

Then would you please explain what the point of this post is if not to locate an investor -

I realize you are unhappy with my advice about your father's life insurance but that is not a reason to carry that over to this thread.

McKoy641 · Oct 1, 2008, 06:49 AM

I was simply asking for advise on where and how to find an investor. I was not saying, "hey, will you invest?". Nor, was I wanting criticism. I get enough of that from myself for getting into this situation.

rockinmommy · Oct 5, 2008, 01:28 PM

Originally Posted by McKoy641

Due to circumstances beyond my control several years ago, I have terrible credit. I have been trying to get my feet on the ground, working two jobs. I rented a house several months ago but the rent was not going to the mortgage so the house is in foreclosure and will go on auction in 2 weeks. I have my daughter (who's looking for a job), a son (with back injuries) and 2 grandbabies living with me and after reading several of your posts, I see (and am ashamed) that I am considered a "squatter". I'm currently trying to find another place to live but can't find a place I can afford (max $650/mo). I am temporarily on worker's comp due to an injury at work and lost my other job, therefore on "fixed income" but will be able to go back to work in a few months. What I really would love to do is find an investor who would purchase a manufactured home, have it put in Tennessee, let me make payments until I can get my credit straight, then buy it. Is this just a crazy woman's impssible dream?

It is possible that you would find an investor who's doing those types of deals, BUT if you do BE VERY CAREFUL. Typically, the riskier the deal (in your situation doing a deal with you would be considered very risky - no offense) the more there has to be in it for the investor. They're trying to make money - ultimately. So without you having a chunk of cash to put down and such a low amount you can pay monthly I think you'd wind up living in something substandard at best.

At this point I would urge you to see about some HUD benefits. It sounds as if all 3 of you (you and your son and daughter) should qualify for some type of benefits. Now isn't the time to focus on trying to buy a house. There will be plenty of time for that. Right now it sounds like you're pretty much in survival mode. I admire the fact that you want a home for you and your family, but I think you need to be very realistic.

Also, I don't quite agree with or understand the "squatter" comment. Unless you are continuing to live there after being told to leave I don't really see that you'd be considered a squatter. If you haven't been paying rent to the landlord then you should have some saved up to get into a new place, no? If you have still been paying rent then you're DEFINITELY not a squatter.