Is it Possible to Finance or Refinance a Mobile home loan?
Mobile home loans are tricky, which is why many traditional mortgage lenders and brokers don’t want to work on them. The owner of a mobile home can literally put wheels on the structure and drive away with it, which increases the risk of the loan compared to a home built on a foundation. Another issue with mobile home loans is that they are considered personal property rather than real estate. So, financing a mobile home loan without the land beneath it is similar to purchasing a car or RV.
To read the entire article with the California Chronicle, click the link below:
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