building home on land currently occupied with mobile home
This is probably more of a financial question. Issue: We are building a new home on the land we currently live on in a mobile home. When we got the construction loan, they absorbed the balance on the mobile home ($12,000). Now they tell us when the final appraisal of the home is done, the mobile home cannot be on the land.
1. Can we SELL the mobile home if it is property locked up in another loan?
2. If we can't sell it, and it can't be on the land, where in the world do we move it? And how much will it cost to have it moved somewhere?
(I'd ask our lender, but we are first time home builders/mortgage loaners and have asked a million questions and they make us fill stupid with every question we ask--as if we should have known the answer or should understand the entire process).