Can I Get a Manufactured Home if I’ve Been Through a Bankruptcy?
During the recession, bankruptcy became an unfortunate reality for many Americans. Even many people who were always diligent about paying their bills on time every month found themselves in over their heads when faced with long bouts of unemployment or large medical bills. Even once you’ve moved out of bankruptcy, it can be hard to move on with the rest of your life when that bankruptcy is still on your credit history, making it hard for you to do things like open new credit cards, get a new car, or buy a home.
Bankruptcies can stay on your credit history for either 7 or 10 years, depending on which type of bankruptcy you went through. When you need to find a new place to live, those 7 or 10 years can feel like an eternity. Having a bankruptcy on your credit report can make it difficult to get a mortgage so you can buy a home. Or if you’re able to find a lender who would give you a mortgage, you might not be able to get one with very reasonable terms. Many people who have been though a bankruptcy can also have a hard time renting an apartment. If it’s hard to own a house and it’s hard to rent an apartment, what can you do? When you need to move, you can’t just wait 7 to 10 years.
If you’ve been through a bankruptcy, one option you should consider is manufactured housing. At HomeFirst™, we work with people who have all sorts of income levels and who are in many different financial situations, including those who don’t have perfect credit scores. If you were to buy a manufactured home in one of our HomeFirst™ communities, you’ll be able to work with a financing specialist who can help you find a way to finance your new manufactured home.
In fact, owning a manufactured home can even help you rebuild your credit. As you make your home payments on time every month, you’ll be working your way toward better credit.
Manufactured homes are an excellent option for people who have been through tough financial times. Since they’re much more affordable than other types of homes, your monthly payments are going to be much lower than what you’d get if you bought a regular site-built house or were renting an apartment. That’s right, you could own a manufactured home and spend less on housing every month than you would if you rented an apartment! This way, not only will you be able to get the new home you need, you’ll be able to save a lot of money in the long run.
Best of all, by buying a manufactured home in a HomeFirst™ community, you’ll be saving tons of money but without feeling like you’re sacrificing anything. Our communities can be found in some of Michigan’s best locations and they’re full of beautiful, modern, spacious manufactured homes. We have homes that range in size up to 2,300 square feet with 3 or 4 bedrooms and have fabulous features like large garden bathtubs, walk-in closets, fireplaces, stylish decorative touches, and a storage shed. Many homes in our communities also have decks and garages, but if the home you’re interested in doesn’t, you always have the option to add one on yourself!
Having a bankruptcy on your credit history doesn’t have to stand in your way of having a nice place to live in a safe location. Take a look at the manufactured homes for sale in our communities. You could be surprised to learn just how luxurious of a manufactured home you could be able to afford! The home you need is just waiting for you. Contact us today to set up an appointment to see any of the homes for sale in our communities!