mobile home loan

[Ellie]

Hello

Can you please tell me why it is so hard to get a loan on mobile homes?I own a 1998 redman but i don't own the land.I have tried many banks and they all turned me dowm because i don't own the land.What is one supposed to do if they really need a loan? Thank you for your help.

[Pam]

I can sympathize with you!! My husband and I have been trying to get financing to PURCHASE a older mobile home in a park with leased land. We have been trying to get financing since November 2002! We really need to move by May 1st (we are in an apartment and building has been sold) We have been shut down so many times already by lenders that we feel like we are really wasting our precious time, get promises and all they do is stall us all the while doing credit checks and lowering our FICO scores to the point that soon NO one will even consider us!! We have been upfront with all details too! JUST HOW DOES ONE GET TO PURCHASE A MOBILE HOME SHORT OF PAYING CASH (which most people don't have on hand in this economy!)