Posted on: 21st Sep, 2007 05:01 am
We are having a lot of problems with our mortgage company and they want to foreclose. But we do not have the money to pay them and we are staying in a manufactured home which is really hard to refinance or sell, can we sell it ourselves before they set a date for the foreclosure. I am in kentucky
Hello Kenneth,
You can surely sell your property and pay off the loan against your home. Or else, you can also refinance your manufactured home. But you need to get loan offers from lenders and this is easier if your manufactured home has a permanent foundation. That's because lenders do not prefer to lend if there isn't any permanent foundation.
You can surely sell your property and pay off the loan against your home. Or else, you can also refinance your manufactured home. But you need to get loan offers from lenders and this is easier if your manufactured home has a permanent foundation. That's because lenders do not prefer to lend if there isn't any permanent foundation.
You can always sell before the foreclosure goes through. However many times on manufactured homes you owe more than you can sell for. It is a depreciating purchase like a car and doesn't gain value like a house.
yes, before a foreclose date fixed, you can sell your property.