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Mortgage Loan
I want to put a new house on existing property, however I have a single wide trailer that I owe money on. I want to be able to borrow money from mortgage company and also roll over existing mortgage loan without putting a lot of money down. Is this possible?
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Hello s: Probably not. A loan for a mobile home isn't really a mortgage. It's more like a car loan. So, you're not going to be able to wrap them into one loan. You could certainly refinance your mobile home and get a building loan that'll convert to a mortgage when the house is done. excon |
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