Buying Land After BK??

[mikesgirl1990]

Can someone help me wiht my little problem.......We are 6 months past our BK discharge. We have seen a little piece of land we would like to buy for use later (10 acres--$16500). Here are the bones of our financial situation---We live in Missouri .We do not own our home, we are renting at the moment(gave up two houses in BK). We don't have any relatives we feel comfortable asking. We own a 1992 Ford Work van and are 6 months from having a 1998 Ford family van paid for. We can put some money down. what do you think ....I need some ideas as to where to go for my best deal on financing.Thanks
leah

[13inOR]

MAN!!!!!! 10 acres for $16500!!!!!! I wish we still had deals like that around here..... : ( Here we are lucky to find 1 acre under 100K!!!!!
Sometimes its hard to finance bare land, according to Suze Orman. Is the owner willing to carry?

[SinkingFast]

Gosh! I used to pass a sign on a regular basis back home (Missouri) advertising for a rural lender.

There are Lenders that specialize in land and farm lending. Maybe try researching on the net. If I'm correct, 10 acres would qualify you. I know 5 is too small, but some will consider 10 acres. It's something like United Farm or something like that.

You could also call around to a few banks and see what they say. If land values are in a boom, they might just go for it. I know when we bought 14 years ago, a 5 acre lot cost $10-15K. Now that same 5 acre lot is worth $50K.