Walking away from traditional mortgage; want to buy mobile home

imunderwater

LoanSafe Member
Oct 18, 2010
115
1
18
Yuba City, California
I am $100,000 upside down in my house and have decided to do a strategic default on this property. I filed bankruptcy 3 years ago and included this house without reaffirming. I was considering saving up for a down payment on a manufactured home and then attempting to purchase the manufactured home PRIOR to any foreclosure being reported on my credit report. How doable is this? Has anyone on this forum done anything like this? I'm just concerned if I wait to try and qualify for a manufactured home loan AFTER the foreclosure is on my credit report I won't be approved or my interest rates will be ridiculous. Any advice will be appreciated. thank you
 

TomEason

LoanSafe Guide
Jun 18, 2009
12,390
85
48
SF Bay Area CA
imunderwater

Thanks for your post.

FYI, there have been many posts about "buy and bail" moves. You might use the search tool to find some.