Will my land be included in the appraisal of my mobile home?
We live in a mobile home and we own the 1/2 acre of land that it sits on as well. If we were to get a reverse mortgage, would the value of the land factor in, or would we only receive money based on the value of the trailer itself?
American Advisors Group | Phil Scott
Your land is an important asset and it will be taken into account when your home is appraised for a reverse mortgage. The value of your home will be based on the home itself and the acreage. If you want us to include all of your property's acreage, this usually means you can borrow more money to help your situation. Our team of reverse mortgage professionals here can also do a 'lot split', which gives you the opportunity to sell off acreage if additional funds are needed, and continue to keep the reverse mortgage intact. There are some strict criteria your trailer must meet to be approved though.
Please call us today to see if you qualify. To find out more about how a reverse mortgage can work for you, you can also order our free educational DVD, which features Former Senator Fred Thompson. You can place an order for your copy from the link on this website or the phone number provided.
Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.
Replied: 3/28/2011
Please call us today to see if you qualify. To find out more about how a reverse mortgage can work for you, you can also order our free educational DVD, which features Former Senator Fred Thompson. You can place an order for your copy from the link on this website or the phone number provided.
Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.
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