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desperate - sub-prime will be fine


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Hey guys.. been reading almost every post on this site, and have begun with the CRAs by disputing, but I'm beginning to feel desperate...

Here's where I sit: owe 61.5k on first mtg, apprasied at 130k, never late on mtg.. 2 car loans, never late. a 3000 CC that has high utilization. All three of my CRs show a cpl 30-days from fall of 05, and there is a collection that i paid the company for (without knowing it had gone to collection). Im pretty sure that is whats killing me.

My scores are 537, 545, and 548. Biggest problem is my home is a mobile, although its on a foundation, and listed as real property, hardly anyone will do a cash out refi.

I DESPERATELY need to do a cash out refi to pay off the cars and the CC to prevent from going late. Im going thru a divorce and my child support is killing me, not to mention gas prices and my 160 mile commute every day.

If someone knows of a sub-prime lender that will do a cash out refi for a bricked in mobile, with MY crappy credit, PLEASE PLEASE PLEASE let me know.. or I fear my scores will only go down from here..



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Hi Mack,

Several Questions:

How long have you been working at the same job or same company.

Is your mobile home in a ruraly area?

You mention that it is on a brick foundation. Is it taxed as "real Property" or as personal property. Do you own the property that it is on?

If you got your refinance and paid off the credit card and other bills, would you be able to make your house payments on time?


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firstsource: Employed by US Navy for 12 yrs, 8 months.

The home is in a rural area, (I was actually asked if it was urban, rural, or country before, it would be country).

Taxwise it is listed as "real property". Both the land and the home are on one title.

My current mtg PITI is 660/mo. Other bills (2 cars, CCs, etc) are about 1300ish. I was asking for 30k cash out to pay off both cars (one is a lease buy out), a revolving jewelery acct, and 2 CCs. The numbers Ive been quoted @12.7 percent leave me with approx 1200 monthly pymt, which is EASILY manageable..

As I mentioned earlier, never late on mtg, or either car note. I was deployed last September 1st, and missed 2 payments on the jewelery acct, and 2 cap 1s (which of course all show).

Dont know if this is too much, or not enough info, but people seem to be pretty frank on here.. thanks for the help.


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