Posted on: 11th Feb, 2009 11:01 am
i have a single wide mobile home it is a 2001. i have just recently went through a divorce so my credit is not the greatest. i was wanting to see if i could refinance my mobile home?
What would be the reason to refinance? To get a lower interest rate? Getting a refinance is going to cost you money. Being that your credit is not that great, the interst rate is really not going to be a good one. You could consider requesting a loan modification from your lender.
It just depends on why do you need to refinance?
It just depends on why do you need to refinance?
Hi kimberlythompson!
Welcome to forums!
You haven't mentioned what your credit score is. In order to refinance the property, you should have a good credit score. If your credit score is not good, then I doubt whether you'll be able to refinance or not. Apart from this, your property should have some equity and your financial situation should be good. I agree with Tawana that when you refinance the mortgage, you'll have to pay the closing costs.
You can improve your credit score and then look forward to refinance. To know more about how to improve your credit score, check out the following link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You haven't mentioned what your credit score is. In order to refinance the property, you should have a good credit score. If your credit score is not good, then I doubt whether you'll be able to refinance or not. Apart from this, your property should have some equity and your financial situation should be good. I agree with Tawana that when you refinance the mortgage, you'll have to pay the closing costs.
You can improve your credit score and then look forward to refinance. To know more about how to improve your credit score, check out the following link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you have further queries.
Sussane