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Is there any type of loan for someone who owns the home but not the land?

Posted on: 13th Sep, 2010 06:12 am
i own a manufactured home (1996) marlette double wide. the home is on property that is owned by my mother. i pay the taxes on the home but she pays the property tax. (i think this was done by a quit claim deed, not sure)... my wife and i have tried to get into a new home but we are approximately 7,000.00 behind on the building tax. is there any kind of loan that would help pay off those taxes so that someday we can try for a new home? i can have the land put in my name when the time comes, but i need to pay off those back taxes on the building and i just do not have that kind of money. any suggestions would be greatly appreciated. together our credit is fair to good.
thank you very much...
Hi seanikishops!

Welcome to forums!

If you've any other property, then you can take out a mortgage on that property and pay off the building tax. Once you pay off the building tax, the property will be free and clear but you would owe the mortgage that you took out on your other porperty.

Feel free to ask if you've further queries.

Sussane
Posted on: 13th Sep, 2010 11:13 pm
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