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03-19-2009, 05:04 AM
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#8 |
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Donating 4WT Yakker
Join Date: Sep 2006
Location: Central Texas
Posts: 5,717
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The problem with the 40 year loan and payments that you can afford is that with mobile homes that do not increase in value as quickly as homes or even lose their value, is that you are paying such a tiny amount in principle each month, that in the first few years, you owe more than the mobile home is worth. So, when you sell it, you either do not make any money, or you lose money. That happened to friends of ours. They lived in the mobile home for 3 years and it cost them $2000 to sell it.
I'm glad you are opting for travel!
__________________
 Gayle
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