Posted on: 09th Oct, 2008 09:24 pm
I bought this place with cash in 2004. It is a 1973 double wide. There was only one owner before me and she took really good care of it.
I need the loan for many repairs, auto repair, etc. Is it really that hard to do. Can't they just put a lien on it. I don't understand what the big deal is.
I do have bad credit so maybe that's a big factor.
Any advice?
Evelyn White
I need the loan for many repairs, auto repair, etc. Is it really that hard to do. Can't they just put a lien on it. I don't understand what the big deal is.
I do have bad credit so maybe that's a big factor.
Any advice?
Evelyn White
Hi Sue!
Welcome to Forums!
If you want to take a loan for improving the house, you can either go for home improvement loans or home equity loans. You can also try for HELOC. This will not remain a personal loan any more but become a mortgage loan. Yes, bad credit becomes a big factor.
You can also check the following link:
http://www.mortgagefit.com/discuss/mobilehome-personalloan.html
Feel free to ask if you have further queries.
Sussane
Welcome to Forums!
If you want to take a loan for improving the house, you can either go for home improvement loans or home equity loans. You can also try for HELOC. This will not remain a personal loan any more but become a mortgage loan. Yes, bad credit becomes a big factor.
You can also check the following link:
http://www.mortgagefit.com/discuss/mobilehome-personalloan.html
Feel free to ask if you have further queries.
Sussane
Due to the fact that you have bad credit and the mobile home is older you be eliminated from most traditional financing options.
The two remaining I would recommend are mobile home specialized lenders and private hard money lenders. I'm sure that both would work with you in your situation. The rates and terms would not be as favorable, but depending on your needs it could be the answer you've been looking for.
The two remaining I would recommend are mobile home specialized lenders and private hard money lenders. I'm sure that both would work with you in your situation. The rates and terms would not be as favorable, but depending on your needs it could be the answer you've been looking for.
