Q: Can I refinance the mortgage of my deceased Father?
I inherited a manufactured home from my father. The deed was transferred to me but not the mortgage. It has an unfavorable rate, 6.875%. The 30 year loan originated in 2006. I was told by the bank that because it was manufactured home I could not refinance. Loan balance to value is about 50%
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A: That is not a law preventing your refinancing That is the Bank's policy. Make sure the Courthouse has a record of your title (Affidavit of Heirship, etc.) Then start looking for a new lender.
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