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The Fed cut made no change to rates today, but is September still "in play"? See our review of The latest move by the Federal Reserve and what it means for mortgages and more.

The Fed cut made no change to rates today, but is September still "in play"? See our review of The latest move by the Federal Reserve and what it means for mortgages and more.

Modular home loan refinancing

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Q: We have a modular home in Yuma, AZ located in an age 55-plus park where we rent space. Our lending institution is charging us over 9% interest on our mortgage. Do you know if it is possible to get a lower rate and where?

A: Have you checked with the mortgage lender who holds the present loan? Since you're a current customer, they might be able to offer you a better deal. Also, if you're friendly with your neighbors, why not ask if they have a different mortgage holder than you to help unearth some other sources of financing?

You might also take a minute or two and read our article on Refinancing Manufactured Housing Loans and our Manufactured Housing Resource Center, too.