Posted on: 05th Jan, 2006 09:39 am
Value: $80,000
Balance: $47,000
What is my first step?
Balance: $47,000
What is my first step?
Hi Cmwalla,
Welcome to MortgageFit Forums.
Reverse mortgage on mobile home are available on the type of of home you possess and the manufactured date.
Can you give some more details on the mobile home that you are referring to and your credit score? This will help us to serve you better.
The first step in your case should be to pay off the debt before going for a reverse mortgage or use an immediate cash advance from the reverse mortgage to pay off.
You can check this section on home mobile mortgage reverse to get a fair idea.
Feel free to ask for more doubts.
God bless you.
For MortgageFit,
Samantha
Welcome to MortgageFit Forums.
Reverse mortgage on mobile home are available on the type of of home you possess and the manufactured date.
Can you give some more details on the mobile home that you are referring to and your credit score? This will help us to serve you better.
The first step in your case should be to pay off the debt before going for a reverse mortgage or use an immediate cash advance from the reverse mortgage to pay off.
You can check this section on home mobile mortgage reverse to get a fair idea.
Feel free to ask for more doubts.
God bless you.
For MortgageFit,
Samantha
Not all lenders offer a reverse mortgage for mobile homes. Also it is not available for all types.
Most lenders prefer to finance a reverse mortgage on a mobile home which are permanently fixed to a foundation although some lenders do offer it for homes not fixed permanently
Most lenders prefer to finance a reverse mortgage on a mobile home which are permanently fixed to a foundation although some lenders do offer it for homes not fixed permanently
Hi cmwalla,
You can qualify for a HUD's reverse mortgage program if you own a manufactured home (mobile home).
As advised by Samantha, the first step should either be to pay off any other debts you have before applying or taking a cash advance from the reverse mortgage to pay off the debts.
A reverse mortgage counselor should be consulted regarding the process.
James
You can qualify for a HUD's reverse mortgage program if you own a manufactured home (mobile home).
As advised by Samantha, the first step should either be to pay off any other debts you have before applying or taking a cash advance from the reverse mortgage to pay off the debts.
A reverse mortgage counselor should be consulted regarding the process.
James