I want to buy a doublewide mobile home that is a foreclosure and make it my primary residence. I live in a singlewide now, and still owe money on it. What banks will lend money to buy the foreclosure and lend extra money to pay off what I still owe on the single wide?
You would need to ask those lenders in your area that will loan on a mobile home in the first place. This may depend on the equity you have in your singlewide, how long it would take to sell, could you rent it, and where would each home be secured? These are questions you'll need to answer when you speak with a lender. In addition you will need to have the income to support your prospective debt, including potential rental income.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
You would need to ask those lenders in your area that will 