Hi I have a 1971 mobile home on an acre of land that I would like to refinance the place will appraise out for atleast 100k and I owe only 54k if that much.
Who will refinance the house and let me pull the equity out of the property? any suggestions?
Where is this property located?
It needs to be at least a double-wide and be considered real estate, on a permanent foundation. The fact that it was built in 1971 may be a problem (some lenders will not do a loan on a manufactured home that is older than 1976). Also, there must be comparible properties in your area for determining value (stick-built homes generally cannot be used). If you meet all of the above criteria, you should be in business.