I have fallen behind in my student loan and credit card payments. I have a credit rating of 500. I own a mobile home, it is fully paid for. It is a 1963, but if very good shape. I paid 33,000 for it :but homes of the same year but smaller sizes have sold in the same community for 50,000 ( in other words I am not sure of the real value ).
I am now making regular payments on the student loan but I am very far behind on the credit card.
Long story short the credit card company has offered to let me pay half the amount to settle the dept ( 6,000 ) and I would like 4000 to catch up on car repairs, and other bills. I am looking for 10,000.
Is it possible tp put up this mobile home as collateral and get a secured loan with my credit score ?
I have a civil service job and I have been there for 6 years, it is very secure and my income is 51,000.
Many thanks for any advice and help.