Posted on: 30th Apr, 2009 04:27 pm
History:
8 years ago purchased 1982 Mobile home on ten acres in Texas
Was purchased as real property
Two years ago we purchased a new 2007 mobile and put it on the property where the 1982 used to be. The 1982 is now sitting off to the side
I currently pay mortgage on the '82 and property and a separate mortgage on the '07
I'm looking to redescribe the real property to include the '07 and remove the '82 and combine the two mortgages into one
1st mortgage owe $112,000 2nd mortgage $68,000
Apprises value approx. $190,000
Can this be done and does anyone have a lender recommendation that might help
Thanks in advance
D
8 years ago purchased 1982 Mobile home on ten acres in Texas
Was purchased as real property
Two years ago we purchased a new 2007 mobile and put it on the property where the 1982 used to be. The 1982 is now sitting off to the side
I currently pay mortgage on the '82 and property and a separate mortgage on the '07
I'm looking to redescribe the real property to include the '07 and remove the '82 and combine the two mortgages into one
1st mortgage owe $112,000 2nd mortgage $68,000
Apprises value approx. $190,000
Can this be done and does anyone have a lender recommendation that might help
Thanks in advance
D
hi dinich!
welcome to forums!
as the two loans are on two separate properties, i don't think you'll be able to refinance them into one. you can pay off the mortgage dues of the 1982 mobile home and then remove it from the land. if you want to lower the rates on your second mortgage, then you can refinance it.
feel free to ask if you have further queries.
sussane
welcome to forums!
as the two loans are on two separate properties, i don't think you'll be able to refinance them into one. you can pay off the mortgage dues of the 1982 mobile home and then remove it from the land. if you want to lower the rates on your second mortgage, then you can refinance it.
feel free to ask if you have further queries.
sussane
Agree with Sussane