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land and mobile home

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angle1500 Joined: 17 Feb 2011 Posts: 1 1.30 Dollars($)	Posted: Thu Feb 17, 2011 11:01 am    Post subject: land and mobile home Like 0 Dislike 0 How does one get property with mobile home already on it fiananced? The propety belongs to father at present , valued 108,000 and all he wants is for us to take over the current loan which is a balloon loan, not a balloon mortgage. We want a fresh start for the balance of $47,000 and no one will finance a mortgage that small or you have to live in it. It will be a summer home in Georgia. We live in florida.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Fri Feb 18, 2011 1:54 am    Post subject: Like 0 Dislike 0 Welcome angle, It is correct that most of the lenders won't be ready to finance a loan of $47,000. You can contact the local retailers who sell mobile home loans and apply for a mortgage with them. They can help you with a loan. But such loans are available at a higher interest rate. _________________ Procrastination is the enemy of your financial success

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