Posted on: 02nd Apr, 2009 11:29 pm
I want to replace my 1986 single wide mobile on my own lot with a small double wide. How?...My 1986 mobile has gone through three owners before me, older men, disabled. Kind of shabbied out. I love the lot, but would like to replace the mobile with a new smaller double wide. My mortgage has 58900 left, the new would be 48000 making a grand total of approximately 109000 including a good foundation. Current single wide is tie down.
my 'smart report' says my lot and present mobile should market at 114000. Never missed a payment, was a couple days late once or twice because of the way my payday fell during the month. My current interest is 5.75 % I would like to finance the new one and just have one payment. of around 635.00, no more than that.
my 'smart report' says my lot and present mobile should market at 114000. Never missed a payment, was a couple days late once or twice because of the way my payday fell during the month. My current interest is 5.75 % I would like to finance the new one and just have one payment. of around 635.00, no more than that.
Hi earlinm,
You should first try to sell off the single wide mobile home and pay off the mortgage dues. Once you sell off the single wide, then you can look forward to buy the small double wide. If you buy the double wide before selling the single wide mobile home, you would be left with two mortgage payments. I don't think that would be a good thing to do. You can list your single wide in the market and check out if you can get buyers for the property or not.
Take Care.
You should first try to sell off the single wide mobile home and pay off the mortgage dues. Once you sell off the single wide, then you can look forward to buy the small double wide. If you buy the double wide before selling the single wide mobile home, you would be left with two mortgage payments. I don't think that would be a good thing to do. You can list your single wide in the market and check out if you can get buyers for the property or not.
Take Care.
I own my land the moible home will be torn out want to replace with repo dble wide low cost
You'll have to pay off the mobile home loan in full before you replace your present mobile home with a double wide. Once you have paid off the loan in full, you can then take out a mortgage using the double wide as a collateral.