Can you buy a mobile home with cash after foreclosure?

Asked almost 2 years ago - Port Richey, FL

We are losing our home to foreclosure. We want to buy a mobile home in a 55+ park. Are you able to buy (with cash) a mobile home (or another home) if you just had a foreclosure and bad credit on your record? We will not be financing, but buying it outright. We intend to ask the park manager as well when we are ready to buy, but was just curious as to other answers on here if anyone knows. Thank you

Attorney answers (4)

  1. Margery Ellen Golant

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    Contributor Level 20

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    Answered . Yes.

    Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-... more
  2. Christopher Charles Dyer

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    Contributor Level 12

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    Answered . Absolutely. Also, if it is your only home you might want to think about making it your homestead so it is exempt from judgment creditors. Feel free to contact me ir you want to discuss.

  3. Charles B. Upton II

    Contributor Level 15

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    Answered . I would think so. A foreclosure affects your credit, but your credit is not an issue when buying something with cash. But your credit could become an issue if you the park requires some sort of monthly payment.

    My answer to your question does not create an attorney-client relationship.
  4. Barbara Billiot Stage

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    Contributor Level 20

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    Answered . I would not recommend buying a mobile home and putting it in a park where you rent the lot. These mobile home lot tenancies are a hot bed of issues right now with every increasing rent despite the poor economy. I have clients whose rent has doubled in six years and they are faced with walking away from their home. They have to choose between food and medication or paying rent. Try to find a park that will let you own the lot or is already owned by a homeowners association (members own the park).

    This communication is not intended to create an attorney/client relationship. It is always recommended you consult... more

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