I’m currently living in a 20yr old mobile home I bought outright in 2009. If it matters, I live in Michigan in the Grand Rapids area. Lot rent has skyrocketed since then and is going up again to $560 a month. I have a roommate that has zero plans on going anywhere and splits everything with me 50/50 on living expenses so she will move with me. Park only does some very poor plowing and garbage pickup; I do everything else. I am really thinking it’s time to get into a traditional home given the age of my double-wide, especially since the roof and deck are showing a lot of wear and I’m reluctant to sink more in. I’m also pissed because the quality of the park has gotten quite bad and I could excuse the high lot rent when the park was being maintained and had standards of who lived here.
However, I am terrified at the prospect of a mortgage because my own parents lost my childhood home to foreclosure and that’s such a scary thing to put up as a risk if I bought a traditional home. I honestly have a good chunk of debt (20k, consolidated loan for debts from credit cards that were the result of both poor decisions and the end of a four year relationship where we shared everything and then suddenly I had to take over all of it). I also have a timeshare that is fully paid off (yeah I know, bad decision when I was younger, living in very different circumstances) that I don’t really want but don’t know what to do with. Currently also leasing a car and am on income-based student loan payments.
Credit is low 700’s and I have a stable job but I’m not making much more than 35k a year.
Is it a terrible idea to consider buying a small house to get away from lot rent and a clearly degrading mobile home? I have no idea where to even start looking into what my options are.
Submitted May 19, 2019 at 05:05AM by jadey_lady http://bit.ly/2WUE23E
