Home Equity or home improvement loan on a MOBILE HOME?
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Q&A: Home Equity or home improvement loan on a MOBILE HOME?
I’ve read that it’s possible, and seen mention of a FH! Title 1 loan, but I’ve called a few banks and so far, none say they will do it.
Does anyone know of a lender that does this?
I own the land, it’s a 1980, well kept (remodeled) home, with detachable 2-car garage, etc., – in other words, it’s not your usual near-worthless mobile home situation.
I’m in California.
The answer in the following:
Answer by Joy
My friend will buy it as is for rent to own if you’re interested. email me plsss
Answer by parsnipianna
Look for a Title 1 lender in your state here :
http://www.hud.gov/offices/hsg/sfh/title/ti_abou.cfm
Answer by Landlord
It isn’t going to happen. A trailer that old is not worth anything at all. It already depreciated to zero. There is never equity in a trailer.
You might not think it is “near worthless” but it is, like it or not.
You can get a personal loan and use that for whatever you want.
What do you think? Answer below!
