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Are mobile homes loans considered to be mortgages?


user33658
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My husband and I recently tried buying our first :?: home and was told by the broker that our credit report show that we currently have real estate.

Yes, we do have a mobile home in AL that we no longer live it and can't get anyone to take over the payment on. It's on family land and we don't pay any taxes on it. Relative currently live in the house and are paying the monthly note. We don't make any profit and do not consider this as rental property.

Experian is the only CR listing this account as real estate, the others have it listed as an installment account.

Why don't we qualify as first time home buyers?

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If you put a mobile home on land it is considered to be a mortgage. If you put it in a park its considered a personal loan. Can you try and dispute this as not mine with cra and see if it gets deleted? I would also think that you could buy the new home if you have the old one up for sale. Just because you had a home once don't mean you can't do fha again. My parents and my brother did fha with their second and third homes, but their current homes were on the market at the time.

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