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Lender to go 15 yrs on mobile home

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poets58 Joined: 29 Jul 2009 Posts: 2 1.94 Dollars($)	Posted: Wed Aug 05, 2009 7:33 am    Post subject: Lender to go 15 yrs on mobile home Like 0 Dislike 0 We need to refinance and get out of our balloon coming up in 2 yrs.
adonis Joined: 22 Oct 2005 Posts: 10246 Location: ALASKA 1043.16 Dollars($)	Posted: Wed Aug 05, 2009 8:01 pm    Post subject: Like 0 Dislike 0 Hi poets, You can refinance the property if there is equity in it. You will have to first contact an appraiser and check out if there's equity in the property. If there's no equity, then the lender will not be ready to refinance your property. In such a situation, you can apply for a loan modification. If the lender accepts your request, then he would lower your interest rate and increase the term of the loan payment. _________________ Procrastination is the enemy of your financial success

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