Posted on: 28th Jul, 2010 01:35 pm
i am foreclosing on a property (the mobile is affixed to the land)1971mobile and the guy needs to refinance at a lower rate to afford to stay there. i can discount (give money away) the note to a certain extent. i would say the property would appraise at around 45k. the prop. is in phoenix az.
thank you
(the lender is deaf, maybe he could qualify for a program that i'm not aware of, and his credit is between poor and fair)
thank you
(the lender is deaf, maybe he could qualify for a program that i'm not aware of, and his credit is between poor and fair)
Hi bobwildhunt!
Welcome to forums!
Mobile homes which are build before 1976, hardly qualify for mobile home loans. Lenders do not offer loans on such properties as they are concerned about the life of such old mobile homes. So, I don't think there would be any lender in the market who would offer a loan for such an old property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Mobile homes which are build before 1976, hardly qualify for mobile home loans. Lenders do not offer loans on such properties as they are concerned about the life of such old mobile homes. So, I don't think there would be any lender in the market who would offer a loan for such an old property.
Feel free to ask if you've further queries.
Sussane