I'm stuck in this home

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Anastasia

I'm stuck in this home

Post by Anastasia » Fri Sep 10, 2004 4:23 pm

I have a 1968 mobile home in a park. We want to sell it & may have a buyer, but the loan is not assumable. We were told we would have to pay off the mobile to free up the property. So, we decided to try and find a financial institute to refinance this place. I can't find any. Does anyone know of any institutes or brokers that will refinance a 1968 mobile home?

rmurray

Re: I'm stuck in this home

Post by rmurray » Sat Sep 11, 2004 6:19 am

You have not mentioned how much you owe...or if the buyer is paying cash or financing...

If your balance is low..and your credit decent..you can get a credit card..or signature loan to pay it off..then when you get the money..pay off the personal loan..

OR..

Your buyer could use an escrow service if they are paying cash..the service can pay off your loan and give you any balance from the proceeds...or...if they are financing the lender can directly payoff your loan and give you the balance...maybe even hold the money until they get the title..

I do not understand why you would want to refinance the home???...It is nearly impossible to finance a 1968 model...local banks might take it as collateral only if they feel the folks buying have good enough credit to get a signature note even with out the home..

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