Changing The Title
Hello,
I have a question that I am having a hard time getting answered through mortgage lenders. I apologize for such a odd first post.
My fiancée owns a home outright (has the title with NO mortgages or leans) and wants to take out a first on the property. There are 2 structures on a little over 5 acres, and the problem is that the first structure was originally a mobile home. The mobile home was a single wide and placed there in 1969. That mobile home has been RADICALLY transformed with permits over the years. Basically almost none of that mobile portion remain. Because it was originally a mobile home lenders say that they can not make a loan on it because it was A.) originally a single wide, and B.) It was before 1979.
The home IS on a foundation and has a basement and even a upstairs now. Now I was told by someone else that a loan could be done if we provide all of the permits that were submitted over the years, pictures of the interior and exterior of the home, and a title history. I was also told that the title could be changed to a "Stick Built?". How hard is it to get the title changed, and how do you go about doing it?
What other options are there, or are these options useable?
Thank you very much in advance,
soon2bepen
The appraisal should clear this up. That is what the banks look at to see what kind of house it is.
The title issue should be easy to clear up once the title company sees the appraisal.
Laurie
[addsig]
Conversion of a Mobile home to Real Property is relatively easy. Just check with your state’s Dept. of Manufactured Housing (if you have one like I do) or DMV.
They should have the forms and procedures to do so.
John (LV)
[ Edited by jfmlv1950 on Date 01/25/2006 ]