Posted on: 07th Jul, 2010 07:17 pm
I currently have a loan for my mobile home and property together but am looking to building a home and want to know what the best way to go about splitting the mobile home and land so we can sell the mobile home and get a loan for a new built on site home with the land.
Welcome AmberRNurse,
If you've taken a loan using the land and the mobile home jointly as a collateral, then it'll be difficult for you to split the mobile home from the land and sell it off. The lender will want you to pay off the loan in full.
If you've taken a loan using the land and the mobile home jointly as a collateral, then it'll be difficult for you to split the mobile home from the land and sell it off. The lender will want you to pay off the loan in full.
I guess it would be easier to find another piece of land and sell this one although i dont want to because its a great location