financing for older mobil homes
Posted: Sun May 11, 2003 8:30 am
In the last two years we bought a 1972 Marlette single wide non-permatized foundation. Since the purchase lenders have decided to stop financing this type of dwelling.
Our plan was to create a rental and at some point possibly market the restored mobil and property. Now unless we find a buyer with private financing or cash we can not sell this investment except for property only.
There at least a hundred simular properties in this area that now can only be sold as property since there is no financing available for single wide mobils of this age.
My question is this. Are there lenders that are interested in financing mobils of this age which are single wide, non permatized and have been restored and have an obvious income potential as single family dwellings/rental units?
I don't want to deal with lenders that are going to pedal all of our financial information and submit it to the internet for thousands of lenders to send bogus offers. We have already suffered this mistake which has unknowingly damaged our credit with unauthorized credit inquiries.
We're looking for lenders that specialize in this type of loan and see a market for financing olders mobils on parcels of land.
Any information that can be provided would be appreciated. Please don't submit our email address to lenders to contact us. We only are requesting names of lenders that do this type of financing. We will make the decision as to who to contact. Thank you for your assistance
Our plan was to create a rental and at some point possibly market the restored mobil and property. Now unless we find a buyer with private financing or cash we can not sell this investment except for property only.
There at least a hundred simular properties in this area that now can only be sold as property since there is no financing available for single wide mobils of this age.
My question is this. Are there lenders that are interested in financing mobils of this age which are single wide, non permatized and have been restored and have an obvious income potential as single family dwellings/rental units?
I don't want to deal with lenders that are going to pedal all of our financial information and submit it to the internet for thousands of lenders to send bogus offers. We have already suffered this mistake which has unknowingly damaged our credit with unauthorized credit inquiries.
We're looking for lenders that specialize in this type of loan and see a market for financing olders mobils on parcels of land.
Any information that can be provided would be appreciated. Please don't submit our email address to lenders to contact us. We only are requesting names of lenders that do this type of financing. We will make the decision as to who to contact. Thank you for your assistance