Posted on: 08th Mar, 2011 01:48 pm
I have no accountable income, but have no mortgage on my mobile home. Am I able to take out a loan on it and use it as collateral?
Hi tripnote,
Unless you've accountable income, you won't be able to get a mortgage. The lenders will not be ready to give you a loan unless they are convinced that you'll be able to pay off the loan.
Thanks
Unless you've accountable income, you won't be able to get a mortgage. The lenders will not be ready to give you a loan unless they are convinced that you'll be able to pay off the loan.
Thanks