Can you buy a mobile home with cash after foreclosure?

Asked 5 months ago - Port Richey, FL

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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

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  1. Licensed in FL

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    Boca Raton Foreclosure Attorney
    Contributor Level 19

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    Answered December 29, 2012 16:31. Yes.

    Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-... more
  2. Licensed in FL

    New Port Richey Foreclosure Attorney
    Contributor Level 11

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    Answered December 29, 2012 17:04. 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. Licensed in FL

    Tallahassee Defective and Dangerous Products Attorney
    Contributor Level 15

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    Answered December 29, 2012 16:27. 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. Licensed in FL

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    Orlando Foreclosure Attorney
    Contributor Level 18

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    Answered December 30, 2012 11:39. 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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