Posted on: 15th Nov, 2010 07:17 am
My parents had a mobile home that they renovated into a house with additions and a permanent foundation. when they renovated they did not remove the frame that the mobile home sat on. they had the house and land paid off and then they got a divorce last year and my mom bought my dad out. she took out a loan from her bank to do that. now she would like to change that bank loan into a mortgage loan but all the companies she has talked to have told her that since there is still a frame under the house it is considered a mobile home and she cannot get a mortgage on a mobile home. what should she do?
As far as I know, mortgages are still available on mobile homes. In case, she is not getting a mortgage, she should contact the retailers who sell mobile homes and apply for a personal property loan. However, these loans are available at a higher interest rate.
This community has a large number of lenders. Your mother can seek a no obligation free mortgage quote and check out whether or not these lenders can help her in this regard.
This community has a large number of lenders. Your mother can seek a no obligation free mortgage quote and check out whether or not these lenders can help her in this regard.