Modifications to manufactured home

[Pam Alexander]

I am trying to get a refinance with cashout for home improvements, and I'm told that no mortgage lender will touch that. I currently have 5.5%, and I'm also told that the mortgage rates if I refinanced would be 7.35%, even though I have a credit score of 700. The mortgage people treat me like I have the plague because I own a "mobile" home. It is on a permanent
We want to get 40,000 cashout for an addition and a garage. The work has already started and our financing fell through, due to erroneous information from a new employee at Wells Fargo, who is our current mortgage holder.
We currently have a 54,000 loan balance payoff, $117,000. appraisal 2 years ago, we have installed hardwood floors, and many other upgrades. The home is on a permanent foundation with well, septic, electric, etc. It is a 2000 model. Has a heat pump, and is on 12 acres, with the appraisal utilizing only 5 of these. I have asked the contractor to stop work for now until we get another loan secured.
HELP!!!

[jeanne colvin]

Didn't get where you were from. But I live in Tucson and am having the same problem. I am glad that I am not the only one. Here is a web site and e-mail address that you might try. They sent this to me. [email protected] The name of the company is Nelmstar and the person that contacted me was Cynthia Dahar. Hope this helps.

[rmurray]

You are not doing a cashout refi..You are doing a home improvement refi..the garage will add value to the property...thus a higher appraisal...

Try the lender section here on this site..You might want to talk to a supervisor at Wells..They will do this type of loan...Rates have risen in the last few weeks..the 5.5% you have now is past history..With your scores you might want to do a 2nd mortgage...for a blended rate better than what others are getting...Good Luck...

[David Oxhandler]

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[Ken]

You wrote:

>I am trying to get a refinance with cashout for home improvements, and I'm told that no mortgage lender will touch that. I currently have 5.5%, and I'm also told that the mortgage rates if I refinanced would be 7.35%, even though I have a credit score of 700. The mortgage people treat me like I have the plague because I own a "mobile" home.

[Linzi]

Wells Fargo does, indeed, have a program that will work for you unless your home being on 12 acres has created the problem. Some lenders have max acreage.
I am a morgage consultant and might can help you if you would like to email so I will know if you are in a state that I can get you financed.

Lin

[Jim Chambers]

If you are located in California, Oregon or Washington we shouild be able to help you. Please give us a call at 800 895-1390 or visit our website at www.thecampbellfinancialgroup.com

[robin purdy]

HEY LINZI CAN YOU HELP ME? I LIVE IN CT. I HAVE A SINGLE WIDE MOBILE HOME ON ITS OWN LAND ALMOST 3/4 ACRE BASEMENT 4 BEDROOM OFFICE SPACE 2 DECKS 1 LEADING OUT OF MASTER BEDROOM OUTSIDE SHED. WE HAVE MADE SEVERAL ADDITIONS MAKING IT MORE OF A HOME FEEL. I AM CURRENTLY AT 7.5 AND WANT TO REFI WITH CASH OUT TO PAY DOWN SOME DEBT OR DEBT CONSOLUDATION. DOES WELLS DO THIS? PLEASE HELP ME!!!!!