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DAVID MCCABE
Guest
0.10 Dollars($)
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 Posted: Wed Sep 12, 2007 8:53 am Post subject: I WANT TO GET A LOAN USING MY MOBIL HOME AS COLLATERAL IT IS |
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I WANT TO GET A SECURED LOAN OR HOME EQUITY LOAN FOR A SMALL AMOUNT AGAINST MY MOBIL HOME WHICH IS
PAID FOR AND WORTH 55,000 - 60,000.00 MY CREDIT SCORE IS LOW DUE TO A WORK INJURY WHERE I WAS OUT OF WORK W/OUT PAY FOR A YEAR HAVING SURGERY. I HAVE WORKMANS COMP CASE PENDING. I MAKE VERY GOOD MONEY AND OWN MY HOME WHO WILL LEND ME MONEY |
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 miller_st
Joined: 17 Jan 2007
Posts: 917
168.82 Dollars($)
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| Posted: Wed Sep 12, 2007 11:06 am Post subject: |
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David,
Lenders would be looking at your debt to income ratio at the time you apply for the loan. You need to check if it is within the specified limits or not. Also let us know how bad is your credit profile currently, is credit score very low?
How much loan you are looking to get? |
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livinginnky
Moderator
Joined: 08 Sep 2007
Posts: 596
23.69 Dollars($)
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| Posted: Wed Sep 12, 2007 5:24 pm Post subject: |
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| Quote: | I WANT TO GET A SECURED LOAN OR HOME EQUITY LOAN FOR A SMALL AMOUNT AGAINST MY MOBIL HOME WHICH IS
PAID FOR AND WORTH 55,000 - 60,000.00 MY CREDIT SCORE IS LOW DUE TO A WORK INJURY WHERE I WAS OUT OF WORK W/OUT PAY FOR A YEAR HAVING SURGERY. I HAVE WORKMANS COMP CASE PENDING. I MAKE VERY GOOD MONEY AND OWN MY HOME WHO WILL LEND ME MONEY |
How do you come to the value of $55-60k?
How much money are you trying to get?
What is very good money?
Did you have steady income before the workmans comp?
How long have you owned the m home?
_________________
Eric Matthews
Mortgage Refinance and Home Loan Guide |
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carnahandavid
Joined: 21 Dec 2006
Posts: 239
58.40 Dollars($)
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| Posted: Wed Sep 12, 2007 5:36 pm Post subject: |
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| Quote: | I WANT TO GET A SECURED LOAN OR HOME EQUITY LOAN FOR A SMALL AMOUNT AGAINST MY MOBIL HOME WHICH IS
PAID FOR AND WORTH 55,000 - 60,000.00 |
Is it on permanent foundation?
Many lenders would require that the mobile home be on permanent foundation to consider your loan request. |
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Rosetta
Guest
0.10 Dollars($)
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| Posted: Thu Sep 13, 2007 1:00 am Post subject: |
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Hi David,
When you have thought of taking a home equity loan against your mobile home, then you must know that to qualify for this type of loan, the mobile home must have been built after 1977 and must meet the HUD standards.
If you meet this qualifying factor for mobile home equity loan, then you will get the benefit of lower interest rate charged on this type of loan. As a result, you can also save some money for meeting your other expenses. |
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helping_user
Joined: 31 Mar 2006
Posts: 786
Location: Hawaii
146.34 Dollars($)
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| Posted: Thu Sep 13, 2007 11:41 am Post subject: RE: Title I loan for mobile home |
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David,
You may consider going for Title I home improvemnt loan program on mobile homes. This will require you to have a decent credit history and financial ability. But in your case, the score isn't that impressive as you have mentioned. So, you need to find out if its applicable at your score. You may even get a loan from one of our communtiy lenders if at all his profile can match your requirements. |
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