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Can I refinance a manufactured home attached to land in Texas?

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texanken Joined: 12 Jan 2009 Posts: 1 1.31 Dollars($)	Posted: Mon Jan 12, 2009 8:50 am    Post subject: Can I refinance a manufactured home attached to land in Texa Like 0 Dislike 0 Anyone have success on a refi? I owe 35K on a home/land worth 150K and am looking for a cash out option, but are not getting call backs. FICO score over 700. Can it be done in Texas and if so who did you use? Thanks, Ken
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Tue Jan 13, 2009 3:07 am    Post subject: Like 0 Dislike 0 Hi texanken, Did the lenders give you any reason as to why they are not giving you a refinance? I think as it's a manufactured home, so you are facing problems in getting a refinance. You can speak to the lenders of this community and seek a no obligation free mortgage consultation. They may help you know what type of rates and terms you may expect to get or whether you will be getting a refinance or not. Thanks. _________________ Good is the Enemy of Great.
Guest	Posted: Tue Jan 13, 2009 8:31 am    Post subject: Like 0 Dislike 0 I have been told by 2 Mortgage Brokers, that refi's with a cash out or home equity/line of credit on a manufactured home are either extremely rare or not done by lenders for Texas properities. I have asked the "lenders" of this community and filled out the "free quoute request" and the "lenders" of this community simply do not reply. I am trying a couple local Texas banks, whom I have heard may approve the loan as they look at each individual case seperately. Apparently the big lenders just simply rule out manufactured/Texas as too risky. Something to think about for the home owners. We paid off the land first, and then paid 20% down on a home with a 10 year note, which is 3 years from pay off. It may be best that we get the house paid early, but it has limited our access to getting the funds we want now. Good luck all, Ken
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed Jan 14, 2009 12:21 am    Post subject: Like 0 Dislike 0 Hey Ken, Yes, most of the lenders do not agree to refinance a manufactured home. You can check out if you the lenders are ready to give you a personal property loan on your manufactured home. To know more about mobile home loans, check out the given link: http://www.mortgagefit.com/mobile-homeloan.html _________________ Procrastination is the enemy of your financial success

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