| No morgatage is this good or bad? |
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Pat
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Location: Calif.
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| No morgatage is this good or bad? |
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I recently inherated my parents mobile home and there is no morgatage owed on it is ths good or bad? Does this mean I have no equity in the home?
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Fri Sep 19, 2008 7:43 am |
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coaster
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This means you own the home 100% free and clear. 100% equity and 0% debt. 
That said, your equity may not be as much as you hope for. Mobile homes typically decrease in value with age.
~Tim~
Eye Candy : Why Whimsy
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Fri Sep 19, 2008 5:08 pm |
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No-Brainer
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Location: Oregon USA
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You probably also inherited a space rent payment, so don't wait too long before you figure out what to do with it.
US Click Ads
Pathway to Income
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Sun Sep 21, 2008 7:13 pm |
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austin
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Joined: 29 Jun 2007
Location: Austin
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its great you have it with no mortgage but mobile homes are the worst real estate investment. I would sell it and either get a house of invest in the market
Austin Texas Real Estate has a Austin MLS search and info on mortgage interest rates
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Sun Oct 26, 2008 4:39 am |
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Offshore-Wealth.com
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Location: FREEDOMLAND
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| Re: No morgatage is this good or bad? |
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quote:
Originally posted by Pat
I recently inherated my parents mobile home and there is no morgatage owed on it is ths good or bad? Does this mean I have no equity in the home?
Good question,
Stay out of debt, besides, it is impossible to get funding on anything in this collapsing market, so if you are going to live in it, better to do it debt free to get through recession and depression coming.
Success to all, Mike
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http://FREE-MOVIE-BIZ.com
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Fri Nov 14, 2008 11:58 pm |
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