Answers
I inherited the mobile home and have lived in it for less than a year and I'd like to get the loan for home repairs and a new/used car. But I'm not sure where to go or how to go about getting the loan.
https://www.lowermybills.com
They have a section on home equity loans and mobile home is listed as a choice for a loan. I've never heard of getting an equity loan on a mobile home, but as long as it's worth more than what's owed, I don't see why not. I've always heard mobile homes don't appreciate, though. Good luck!
Home equity loans for mobile homes generally require the mobile home to be permanently attached to a piece of property that is also owned by the ...
BUYING A MOBILE HOME IS LIKE BUYING A CAR...THEY ONLY DEPRICIATE AND SELDOM BUILD EQUITY....
an equity line of credit of about 10,000. We have good credit but have a bankruptcy on our credit from about 3 years ago. I know that is bad but other than that everything lookd really good. Our credit score is right below 700. No one wants to help us because our home is considered a mobile home. It's bricked and considered real property. Who should we ask? Has anyone out there who has a mobile home got an equity lline of credit? Please tell me with who you did so we can call them. A direct e-mail to the company would be great too. Any suggestions? Thanks
no it's not on rental property, we own a few acres, our mortage is with a reputable company known world wide (I won't say the name). were not in a trailor park or anything, we are in a nice community with mostly all "stick built" homes, brick and whatnot.
Go to your local banker and take a loan on the land and the mobile home as a whole.
Good Luck!
Declaring Bankruptcy on Manufactured Home Mortgage | LoanSafe.org
Manufactured homeowners are also discovering that they can be protected by Chapter 13 bankruptcy even if they are the owner of the land on which their mobile homes are currently placed. Whether the land is rented or owned no longer matters after the victory of the Colemans against Green Tree Lending in the US Bankruptcy Court of the Western District of Missouri. In simple terms, the decision allowed the plaintiffs to include the mortgage in their Chapter 13 bankruptcy filing.
Green Tree Lending had claimed that the 2005 amendments to the bankruptcy law that included manufactured homes prohibited the inclusion of the mortgage in the filing. However, the court ruled that inclusion of the mortgage in the bankruptcy filing would be possible unless the homeowner has a mortgage on the actual real property that also serves as the residence of the borrower.
...News
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