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CAN LAND BE USED AS COLLATERAL FOR A LOAN?

Posted on: 15th Jan, 2011 02:18 pm
WE OWN TWO ACRES OF LAND FREE AND CLEAR IN MAGNOLIA,TX, MONTGOMERY COUNTY. WE WOULD LIKE TO USE THE LAND AS COLLATERAL TO BUY A SMALL NEW MOBILE HOME, BUT WE ARE BOTH ON SOCIAL SECURITY DISABILITY? IS THIS POSSIBLE? WHO SHOULD WE CONTACT?
Hi fayepruitt,

Though you're on social security disability, you may be able to get a mortgage. You should contact the local lenders and apply for a mortgage. The lenders will check your overall financial situation and let you know whether or not you will get a mortgage.
Posted on: 16th Jan, 2011 11:56 pm
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