Refinancing a paid off double wide


#1

I just recently bought a mobile home park and upon purchasing a paid in full 2004 redman 3 bedroom double wide came with the park. My question is is there any way to refinance the double wide so I can have the cash for capital. My park is in Michigan by the way so of course I would have to follow Michigan mortgage law. Any help would be greatly appreciated.


#2

The short answer is no. No one will give you money in exchange for a mortgage on a thirteen-year-old used double-wide that you’re not going to live in yourself.