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Home Equity Alternatives For Cellphone Homeowners
Since the owner of the mobile home, you’re currently well-aware that banks don’t value your home because very if it were a traditional home as they would. This can be why you’re wondering about house equity: am I able to get a true house equity loan back at my mobile house?
It’s a question that is great. You might be exploring your different HELOC and home equity loan options if you’ve kept up with maintenance on your mobile home and now you’re hoping to cash out (or you’re looking to snag a home equity product to remodel your double-wide.
Here you will find the top things you must know about house equity and modular or homes that are manufactured.
You’ll need your can purchase land.
A space at a mobile home park, you won’t be able to get a home equity product -- even if you own your mobile home if your rent. Here’s why: Banking institutions examine mobile houses as individual home ( such as a motor vehicle) instead of real home (like a home).