Posted on: 05th Feb, 2010 06:44 am
Can a Mobile Home qualify for a Loan Modification? It's located in a mobile park, bought it in September 2006 for 130K, currently owe 100K, was valued by a Realtor through comps at 83K max, I have never been late on my payments, would like to take advantage of todays low interest rates. Refinancing is not possible because I owe more than the current value. Would love for my wife and I to continue living there but the payments are getting tougher. Any suggestions? Thanks.
Of course. Property type doesn't have anything to do with the modification programs. Its about affordability.