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How can I work my mobile home loss into my modular home loan?

Profile picture for cdc29
We currently have a single wide sitting on an acre of land. We have found a good deal on a modular home that we are attempting to buy. The company is willing to buy the mobile home but I already know we owe more than its value. Is there a way I can work this into my new loan. I need some advice on what my options are.
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May 23 2011 - Knoxville
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Answers (1)

Profile picture for wetdawgs
You can not get a loan greater than the appraised value of the home you are purchasing, so if you are short on the mobile's mortgage you'll have to find a different way to pay it off at closing.
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May 23 2011
 

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