Posted on: 26th Mar, 2007 02:45 pm
Help! I have inherited my parent\'s 1977 double/triple wide mobile home in CA. I am trying to obtain a loan to cover my own back income taxes (long story), and to cover current taxes. There is no lien, or mortgage on the house. I have been employed many yrs with the same company, am retired military, but have, I have found out a very poor credit score. I have seen anywhere from high 500\'s all the way up to 691. I cannot seem to obtain a personal loan, even with the mobile home as collateral. The home is insured for $102K, and probably would be valued in the high $60\'s. I am looking for around $20K. Any help or assistance would be greatly appreciated.
Huber, mobile homes on permanent foundation can be classified as real estate & thus it is easy to avail finance for them.
If your credit score is not good then it can affect your chances of getting a good rate for the mortgage.
The rate quotes you will get will be higher because of your low score. But firstly many lenders would require that the mobile home be on permanent foundation.
The rate quotes you will get will be higher because of your low score. But firstly many lenders would require that the mobile home be on permanent foundation.
"I have found out a very poor credit score. I have seen anywhere from high 500's all the way up to 691."
??
you mean to say that you have seen your score fluctuate between 500 to as high as 691?
if your score had been around that highest mark of 691 then getting a mortgage with lower rates would have been lot easier. But what is your present score?
avoid foreclosure
??
you mean to say that you have seen your score fluctuate between 500 to as high as 691?
if your score had been around that highest mark of 691 then getting a mortgage with lower rates would have been lot easier. But what is your present score?
avoid foreclosure
Hi Phuber,
Welcome to our forums.
Since you are looking for loan with mobile home as the collateral, you can look out for lenders in our community. May be they can help you out.
The lenders in our community offer loans on different types of properties at various rates of interest to suit the needs of borrowers having different income levels.
If you are interested, you can request us for Free Mortgage Quotes. As soon as you send us your request, we shall forward it to our community lenders. They shall contact you if their profile matches with your requirements.
Good luck!
Caron.
Welcome to our forums.
Since you are looking for loan with mobile home as the collateral, you can look out for lenders in our community. May be they can help you out.
The lenders in our community offer loans on different types of properties at various rates of interest to suit the needs of borrowers having different income levels.
If you are interested, you can request us for Free Mortgage Quotes. As soon as you send us your request, we shall forward it to our community lenders. They shall contact you if their profile matches with your requirements.
Good luck!
Caron.
We do this type of financing everyday...as long as you have good scores the rates are very attractive and financing is upto 95% so you can consolidate or cash out the equity you have retained. I'm associated with a national lender and banker so we have alot more options than anyone you may encounter. Email me at american_nationwide@yahoo.com for more details or call me 314-237-9355 personally and I will take good care of you.