what are the co signer requirements for the refinance of a mobile home in CA?
Manufactured Homes May 8th, 2010My mom is looking to re-fi her mobile home and needs a co signer. a couple lenders I talked to said the co-signer must be a resident of the home, but the co-signer lives out of state. is this a requirement for all mobile home loans or just a few?
Additional details –
Co signer needed cuz step father passed and only income is mom’s social security and the pmts are too high. we don’t want her to lose the home
May 8th, 2010 at 1:05 am
the co singer does not have to live in the home.
the quickest way a person can get bad credit is to cosigner some one. i don’t know why your mom needs a cosigner there are a # of reasons for a cosigner not just bad credit on her part,
but if someone is willing to put their head on the block for her, she needs to do best not to default on that person,it would put them in a big mess.
May 8th, 2010 at 1:05 am
any cosigning is BAD idea !!!
the co signer always loses, even if it is your mom. have her and your cosigners visit daveramsey.com to learn what they haven’t and the mortgage companies pray they never ever learn and apply.
i understand CA house prices are Stupid and insane but re-fi only treats the symptom not the underlaying disease/ cash problems