Ok so my dh and I have lived in our manufactured home for the past five years. We love our house but we are really starting to hate the community we live in .. to many rules that aren't being enforced by EVERYONE, just some people .. its just a hassle these days. Anyhow, we don't really know what the best way out is. Our credit is near perfect and we had already been pre approved in the past before we bought the man. home for a stick built home, but at the time the market was a sellers market not a buyers market, now its a buyers market and we want a stick built home. We have heard that if you go to a bank, and ask them for a loan pending the sale of your house most banks would apprive you, and then a few months later just go to them and tell them that your house is not going to sell would they still give you the loan, most likely yes because they want your business. We have also heard that if we let it go back to the bank we could walk away, but it would affect our credit, which we don't really want. Also have heard that if you put your house up for sale the bank could auction it, and then if you match the banks bid, you just owe that amount, not what is left on your house, which would mean that we could also afford to get a piece of property around here and move our house out. I don't know if any of these things are true, and I may not be saying them right, but the bottom line is this .. what is the best way for us to get out of our house and not have it affect our credit in a negative way?

The only way out is to sell it. Anything else will impact your credit, badly.

You could rent it out, but you need to be sure you current loan will not be at risk if you arent't living in it.

Contact a realtor in your area with a good reputation. Or a mortgage bank.

unfortunately these manufactured homes are EXTREMELY hard to sell because they really aren't worth what you still owe on them, and there is no equity in them either and you can buy pretty much a brand new home for what you are trying to sell four or five year old homes for ... thanks for the suggestions on the mortgage lenders though ...

now is just a hard time, but I agree you have to sell it, even if you take a loss could you still pay off the balance of that loan and the new house loan??? Thats the rough part of the market right now....its FANTASTIC for first time buyers, as everything has come down in price, but if you have a place to sell, its rough. The upside of course is that if you do manage to sell, you may not "lose" as much as you think because probably the house you are also buying is being sold for less than say it would have 5 years ago (if that makes sense).

I understand what you are saying, and selling, or trying to sell, is always an option for us .. it's just a matter of wait and see if anyone really wants a five year old man. home in a park ...