Mobile Home Loan...for your dream home.

Are you looking for a home other then a usual home built on a specific site or fixed site and planning to cut cost on home then you are definitely looking for a Mobile home or manufactured home.

Mobile homes are usually built in factories and then taken to the specific place where it will be placed or laid the foundation.It might be a temporary or permanent foundation as per requirement.Tractors and trailers are used for transportation of this homes which are mostly in high density and rural area.This houses are used mostly for campsites or temporary accommodation in some countries.

Financing for a Mobile (Manufactured) home.
Sometime it might look hard to find a mobile home loan because most of the banks won't provide finance for manufactured homes as it does not include any land.But still there are some companies specialized in financing for mobile home and can provide finance for mobile home.

Eligibility criteria to qualify for a mobile home loan proposed by HUD:

1.The borrower must be able to the pay the minimum downpayment required i.e 5 percent.

2.He will have to show an adequate income so that will be able to repay the
loan and can also meet his personnel requirement.

3.His intention should be to use mobile home as his principal residence.

4.He should posses a suitable place to lay the foundation of the manufactured home it can be a manufactured home park on rent or an site owned by an individual or leased.

A Manufactured home which is eligible must have:

1.The Safety standards of National manufactured home construction.

2.Manufacturer's warranty of 1 year of a newly manufactured home.

3.Must be placed on a site that fulfills the established local standards for the suitability of site and has sufficient sewage disposal facilities and water supply.

However furniture are not included in manufactured home loan except wall to wall carpeting.

So if you qualify for this you can easily fulfill your dreams of having a mobile home at a much affordable rate.

The US job crisis

Every single individual in us has one word in their mind i.e., the job crisis. Job crisis in US is really hitting new height and the recession is yet to deepen as the scale of the economic crisis is growing higher and higher day by day, statistics revealed that the United States is loosing more then 25,000 jobs everyday. In last 25 years US economy reached its highest level of unemployment it was the world’s worst economy shed 651,000 jobs were lost in the month of February. Since the recession started more then 4.4 million Americans have been made redundant more then 12.5 million are officially unemployed in US. The unemployment rate of loosing job was to every sector, except government, education and health but the worse effected was US labor department more then 7.9%

The Barack Obama $787 billion stimulus package will definitely help to improve the current crisis. But it will definitely take some time. However in the recent time some 9000 government jobs were created with an increase in health service and education employment. But according to a prediction by gloomy economist the job market may not pick up until 2013.Hope that the huge fiscal and monastery measure will work out very soon to come out of this situation.

Know how the US recession was created by Federal reserve

The central bank of United state (Federal Reserve) which is responsible for regulating the supply of money has created recession in US economy..

The Causes of Us Recession
According to US Federal Reserve chief Ben Bernanke the US recession can last up to 2010 if proper steps is not taken by the government for proper functioning of US market and to stimulate economic activity.He also pointed out that export would be hit as the global nature of the downturn was a threat.But if the Obama administration and the central bank took some measure to restore financial stability then 2010 we will be on our way to recovery.

Student loan Debt Consolidation..and some tips to get out of student loan debt.

1.If your income is not allowing to pay off your federal loan then you can go for an economic hardship deferment or forbearance.it will help you to reduce your monthly payment yes but keep in mind that your interest rate will grow on.

2.If you have a long term financial problem,there are also some extended repayment plan that can reduce your payment plan stretching life of your loan for 30 years but it will definitely increase your total repay amount.

3.Do you have any federal student loan through the US Department of Education's Federal Student Aid Programs then you have an income contingent repayment plan by which you can pay off your loan.

There are also news that another Debt relief program is to come in July 2009 which will be an income based repayment program.In this plan if your income is higher still you have to pay less.So with proper guidance and student Debt relief program get out from the burden of debt while pursuing your studies and move towards the bright future ahead.