can i get a title loan using my mobile home title.

laneyjoshua · Joined: 15 Nov 2009 Posts: 2 1.32 Dollars($)

i have free and clear title for my 1970 mobile home, and i need to borrow 3,000.00 dollars, can I?

jenkin7 · Posted: Mon Nov 16, 2009 12:12 am Post subject:

Hi laneyjoshua,

It will be quite difficult to get a loan against your mobile home. You own the property title free and clear. But the home is quite old. The mobile homes built before 1976 do not meet the property requirements as per the Federal National Manufactured Housing Construction and Safety Standards Act of 1974. Such old homes depreciate fast, which is why lenders do not generally want to offer loans against such old mobile homes.

Guest

Is is possible to get a title loan on a mobile home as new as 2000

Guest

Can I get a loan with the title to my mobile home, it's free and clear? I have poor credit and I need about $2500-$3000.

jerry · Posted: Fri Jan 08, 2010 3:00 am Post subject:

Hi Michele,

It is possible to get a loan using your mobile home as collateral. The mobile has to be free and clear of any liens and there should not be enough equity in it. The home also needs to meet the property eligibility criteria.

Hi Phyllis,

Qualifying for a loan with a poor credit is almost impossible in this economy. It all depends on how poor your credit is. If it is way below 600 points, you will not qualify for any type of loan.

Thanks,

Jerry

gmakerley · Posted: Fri Jan 08, 2010 3:40 pm Post subject:

the topic here is "title loans." i have no personal involvement with or knowledge of these loans, but i do know that there are shops that will hold a title as collateral for loans, such as are being discussed here.

funny, though...i just did an internet search for "title loans" and the first thing that popped up was "why title loans are a bad idea" - an article that appeared on the CNN website a while back.

well, i think we all know that title loans and payday loans and pawn shop loans are bad ideas, but when a person owns something of value free and clear, and is in need of funds, they can come in handy.

laney, michele and phyllis - i think your best bet is to ask around in your local community or do internet searches to determine if you might be able to use your titles for collateral for a loan. i have a feeling you'll not find too many people interested in holding the title to a mobile home, though.

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