Good Income, Bad Credit Couple - Posted by rouser

Posted by Karl (Oh) on October 15, 2005 at 09:17:23:

Parks typically will require all adults living in the mobile home to be approved by the park. I wouldn’t advise a potential buyer to omit or exaggerate any info on the application. When they get busted by the park, and they say that you told them to do it, your relationship with the park will be damaged.

Most of the folks that need our help have banged up credit. So you need to find a park that is flexible on their criteria for approval. In my parks, poor credit can be overcome with good rental history and a clean criminal record.

I’ve had a lot of luck putting bad credit buyers in cheaper homes, with the understanding that they could trade up into something nicer down the road if they build good credit with me.

Karl Kleiner

Good Income, Bad Credit Couple - Posted by rouser

Posted by rouser on October 15, 2005 at 08:07:19:

I’m trying to link this couple with a deal. He has good income, but bad credit. She has OK credit and low income. She thinks they were previously rejected at another park due to his bad credit. From what I gather this couple could easily afford $1,000 a month total payout. Would it be good advice to have her name only on the park application in order to get approved? And could exaggerating a little on her personal income statement potentially pose any kind of legal problem??? Or could she just leave the line blank and still get approved? I’d personally feel safe with a good down payment from this couple.