Does anyone know about a loan that I could get using my property as collateral?

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My husband and I saved awhile to buy a house. We were finally able to buy 3 acres at a really good price. We have to a make some improvements though. We have a single wide mobile home sitting there now, but the property is zoned. We have to buy another mobile home to set it up as a double wide. We are looking for a loan to buy the other mobile home and pay off the rest of our bills. We just want to use the land as collateral and the trailer too if necessary. We don’t need much. Or porperty value is around $ 18,000 but we only want to borrow $ 8,650. Our credit is not the greatest either. We have been denied for mortgage loans and collateral loans. Any suggestion would be helpful.


1 Comment
  1. Reply
    steve c
    May 17, 2011 at 6:07 am

    collateral loan is what you need, keep trying? do you own the land out right? the mobile home?
    any loan these days are tricky, but if you own the land out right and the mobile home then I don’t see a problem. If you owe on either then I think you have a problem.

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