Financing

[Lynn Sharpe]

I have a 1997 mobile home and financed it with GreenTree. At the time, I did not realize that it is a simple interest loan and I have only paid about $1,000 on the principal over these years. The reason it is a simple interest loan is that my daughter allows me to place it on her property. How can I get a mortgage loan on this without purchasing the land?

[rmurray]

First...simple interest loans are the best loan available...the other type is a rule of 78's loan..in this case your principle would be higher now than when you started..

The amount of principle paid is a function of the term...30 year loans (any 30 yr loan) takes a long time to lower the principle by any amount...

There is no company that will refi your loan at better terms than you already have...sorry..