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is there anybody that will refinance my modular home

by Brett Kraft from Charles City, Iowa. Jan 3rd 2012 Reply


Stephen Harris (stephen.harris)
#38 ranked lender in Ohio - 37 contributions

Yes they can be treated as a single family residense

Jan 3rd 2012
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Al and Cindy Lane (Al Lane)
#2 ranked lender in Washington - 38 contributions

As long as it is a true Modular and not a Manufactured Home then it is the same as stick built. Modular Yes, Manufactured would be more difficult but could be done.

Jan 3rd 2012
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David Baker (David Baker)
#1 ranked lender in Iowa - 51 contributions

Modular can be treated as a standard stick-built type of property - given that it is a true modular home rather than a manufactured home. I would suggest looking up a mortgage broker (such as HALO Capital, of course) in your state that has several lenders' guidelines available to help you obtain the most likely opportunity of financing.DavidHALO CapitalDes Moines, IA

Jan 3rd 2012
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Adam Webb (Adam.Webb)
#16 ranked lender in South Carolina - 19 contributions

Yes as long as it's a modular home and not a manufactured home it will be treated as a regular stick built property. If you're not sure what type of home it is there are a few quick observations that will help determine. First if it still has wheels and a trailer hitch attached it's a manufactured home. 2nd if you look under the home and see a steel beam running the length of the home then it is a manufactured home. if you don't see any of these items then you should be good to go as a modular home. I hope you find this information helpful. please feel free to contact me with any additional questions. Adam Webb Mortgage Consultant NMLS Unique Identifier #196458 First Charleston Mortgage L.L.C. Toll Free: (800) 968-3987 or email Adam.webb@firstcharleston.com

Jan 4th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

A true modular home is really no different than a traditional built home. Almost any lender will consider financing them. If you are having difficulty finding a lender, is it because your modular home was really built as a "Manufactured home"? If your home is really a Manufactured home, there are lenders out there still doing them with FHA and VA financing. My best advice is to contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org

Jan 4th 2012
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Rudi Hofmann (CaPortfolioLoans)
#277 ranked lender in California - 380 contributions

Brett- Find a lender that is approved with PennyMac or contact their retail mortgage sales department. - I also suggest speaking to this man not necessarily about financing. - About his knowledge on manufactured and modular housing. - http://www.trulia.com/profile/onthelevelcontractors/ - If this is not a "Hot Link" copy and paste it in your address bar that we get you there. - Best wishes -Rudi

Jan 5th 2012
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my husband and myself were excited 7 years ago when we were approved for our modular home , now we need to refinance due to loss of income and everything going threw the roof as far as gas , food ,etc. we contacted our mortgage company in hope of relief from them (21 MORTGAGE).we explained our situation to our mortgage broker , my husband and myself have made cuts in our budget but its just not enough we have tryed to refinance with this company befor but as you know this company is very hard to deal with , my home when we purchased it was worth 137, thousand now only worth 110,thousand we only want to refinance for a lowerinterest rated so we can save our home and pay what we can afford , or our other option which we have explained to them which would be to forclose it seems as though no one wants to help anyone or it seems us . we owe still 137 thousand and its only worth 110, thousand so there for we are having a hard time refinancing , but in all reality we would think our own mortgage company would want to help instead of getting a repo. what is your suggestions on this situation we are treding water , although we really dont want to lose our home ,we are drowning here with no other option, thank you rose (PLEASE RESPOND TRGPOLARA@MYFAIRPOINT.NET)

Jan 9th 2013
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trgpol....I as well are in the same boat with you with (21 MORTGAGE)..I am as of now looking into Hardship restructuring. Waiting on the next business day to contact HUD to see what I can do to get my Mortgage lower.I do know that Obama has given homeowners means of keeping the home they live in without facing foreclosure and I suggest you as well contact HUD to see what may benefit you

Feb 10th 2013
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