Manufactured homes refinancing depends a lot on the age and “blue book” value of your mobile home. The blue book value of a mobile home is exactly what it sounds like — a numerical value found in a book. In the past, there were multiple books. Today, there is only one book that contains the blue book value of mobile homes. It is called the N.A.D.A. Manufactured Housing Appraisal Guide. This guide is what the professionals use to determine the value of a mobile or manufactured home. The blue book value of a mobile home is calculated using a variety of criteria. This criteria may include geographic location, make, model, size and age of the home in question.

Even if you can access this manual, it is advisable to have a professional appraiser do the job for you. The formula for calculating the value of your mobile home can be quite complicated. Book value is going to be most accurate for mobile homes and areas that are deemed average in nature. It also depends on the position of the housing market in your area. Because this is such an in-depth process, you must depend on the services of a professional if you want things done right. There are certain reports you can purchase on the Internet that help you determine the market value of your mobile or manufactured home.

When you are buying or selling a mobile home, the blue book value will come into play. The majority of lenders require the book value when it comes to granting financing for people who need a mortgage loan in order to purchase their mobile or manufactured home. If you are not ready to hire a professional appraiser to come to your property, you can order an appraisal on the Internet. You will need to provide detailed information about the property for the online appraisal service to use. These types of services and reports provide you with an accurate idea of your mobile home’s blue book value so you can decide if you want to sell or not. Mobile homes do not usually appreciate in value, but this is not a hard and fast rule but rather a more general one.

Author: Milt Wapner

Online In The News …

Manufactured home prices
The traditional factory-built home manufactured housing companies would seem to have a bright future as well.

Used manufactured homes prices
A multitude of home buyers and some lending institutions resist consideration of modular homes as equivalent in value to blog-built homes.

Montana dakota mobile home dealer at modular home designs
Their roofs are usually transported as separate units, eradicating the telltale roof line of the factory built home. As the need for housing continues to grow, so does the price of homes.

Mobile homes and manufactured home specials
The tendency of these homes to rapidly depreciate in resale value made using them as collateral for loans far riskier than traditional home loans.

Mobile home floor plans
Most of the companies are selling complete pre manufactured prefab modular homes or houses called “mobile homes” or “manufactured homes”.

For more on mobile home values and prices and for mobile home mortgage refinance”>mobile home mortgage loan information, visit the Mobile Home Shoppers Guide at http://MobileHomeShoppers.com Today!

Article Source: http://EzineArticles.com/

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I know there’s lot rent and then the cost of the loan from the bank to buy the manufactured house but do you have to pay taxes like you would on a normal house? how much are the taxes on a manufactured home if that’s the case?

Any information would be great!

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My hubby and I will be getting a divorce (uncontested hopefully). We’ve been together for 11 yrs and married for 4 yrs. We do not have any kids. We agree on the division of most of property, and the only major asset we have is our 2001 manufactured home; therefore, this is the main dispute. We still owe K on the house; tax appraisals say it’s worth K. I feel that he should “get” the house. I have no prob. w/this b/c it sits on his family’s land. I think he should buy out my half of the equity (K), re-finance, and continue to pay the mortgage w/o my name on it. Therefore, he can do whatever he wants w/it – sell, keep, move elsewhere, etc. He thinks I should only get approximately K from the house – which is half of what it’s worth (K) minus half of what is still owed (my part of the debt – K). He also does not want to put more money into this house than he needs to.

A few questions:

1) Am I still responsible for this original debt? It would seem that if he would get the house, then I’m done w/the house. I think it would be the same as if I were a roommate that moved out but since it’s a house, there’s equity. But I think only getting K from this house is unreasonable considering what we’ve both put in to it. We’ve both paid an equal amt., literally – if he paid the month’s mortgage, then I would pay him half of the bill and vice versa. We’ve never combined our accts.; we’ve always kept them separate but made sure the bills got paid. This has worked for us.

2) So if this is the only dispute, would this still be considered an uncontested divorce or since we’re disputing the house and can’t come to an agreement, is it contested?

3) Should we seek legal representation? My hubby does not want a lawyer to get involved b/c of the cost. I would like legal advice just to make sure everything is equitable, fair, and done right. Is getting a lawyer a waste of money? I would not want this to become more antagonistic due to the involvement of a third party. Could a mediator help in this situation? What are the advantages/disadvantages of both (lawyer an mediator)?

4) Have any of you been in a situation like this – where you have no real assets and you can agree on the separation of most things? How did it turn out? How did you resolve any disagreements?

Thanks in advance for any advice.

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OK…so the home stimulus package helped the banks, but not me. I am looking for a manufactured home loan of ,000. I am VA eligible and make close to 00 a month. But because there was a late payment on a credit card a few months ago, everybody says no. I think that the stimulus package sucks and there is no way to help the working people of the US. Can anybody help??

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OK…so the home stimulus package helped the banks, but not me. I am looking for a manufactured home loan of ,000. I am VA eligible and make close to 00 a month. But because there was a late payment on a credit card a few months ago, everybody says no. I think that the stimulus package sucks and there is no way to help the working people of the US. Can anybody help??

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Ok so your trying to sell a house for 67,000 its a manufactured home, year is 77 3 bed 2 bath, and sits on 1/4 of an acre nice condition good area but its been on the market for a while and it hasn’t gone yet

Here is the reason, the foundation is old and it needs to be updated before any mortgage company will touch it.

a person makes you an offer, they know a contractor that will jack up the house and upgrade the foundation, it’ll be 4 to 5 thousand for the upgrade, the buyer wants you to upgrade the foundation, then buyer offers 65,000 plus asks you to bundle the closing cost into the final sale, which brings it back up to 67,000. with the cost of the upgrade and bundling the closing costs, a profit of 60,000 7,000 less then asking..

so.. would you think this is a good deal? knowing the house hasn’t sold yet because no one will finance without a proper foundation, unless they have a whopping 20% down..
by the way i am the buyer concidering making this offer.. the house is nice, in the area we want to live in and within our budget so that i can remain home with our still young children…

Technorati Tags: budget, closing cost, manufactured home, mortgage company, proper foundation

Hello! I am wondering about log homes. We may be moving soon, and I thought it would be cool if we got a log home. The place where we may get it makes modular log homes, and transports them to the area where you want it, and basically installs it there. I am wondering though if it has the same advantages and disadvantages to owning a regular log home, though. So what I need the answer to is: Does owning modular log homes have the same pros and cons of owning a regular log home? Please help me ASAP!

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This is a re-post as I don’t think my first question was clear enough.
I am trying to purchase an REO Manufactured home. I am approved FHA and paid for an inspection. The home is in VERY good condition for the price, but there are a couple of issues that MAY come up for the appraisal. If I have an appraisal done, and the bank that owns the property refuses to fix the items required to close, I have to pay the appraiser 0, so I’m trying to work this out before the appraiser goes in.

Is it unusual to word the from 35R as "seller must fix all items required by appraisal to close at sellers expense"? Is that an acceptable way to word it? The items that MAY become an issue would cost no more than k to fix, and I’d even be willing to reimburse 0 of it at closing. I don’t want to lose the house over 2k in repairs, but I also don’t want to put any more of my money on the line (already put 0 into this).

The seller has stated its an "as is" property, but I’m not asking for anything to be done that the appraiser wouldn’t require in order for it to be financed. And yes, the seller was made aware from day 1 that I’m an FHA buyer.

Any tips, suggestions, comments? Please state your source and thanks for the input.

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If anyone in mortgage is reading this, I know it’s harder getting a loan for a used manufactured than a new. I just want the information. Thanks!

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I want to buy a manufactured home and put it on land that I own. Where can I find someone to finance such a venture? The banks that I’ve tried won’t touch it.

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These returns are all addressed to my website noahsarkleather.com.
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Did you know that if your over 65 (i think) and have a home that is paid for, you can apply for what is called a reverse mortgage. That is income paid back to you monthly from equity in your house. This is not an equity loan. This is something the government has set up for people that own their home. Monthly income. I believe it doesn’t hurt any supplimental income you are currently receiving such as ssi or retirement… you need to check though with the reverse mortgage person.. I discovered this a while back, however much to my dismay, because we lived in a manufactured home that was made before 1972, this didn’t apply to us. Just thought you would like to know if you have a relative that is older and having a hard time with their finances. This is a payback to them. Remember, this is called a REVERSE MORTGAGE…

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My husband and myself have bad credit. We recently bought 20 acres on owner contract and would like to eventually put a house on it. We thought we could save the cash and build a log home but after helping my dad build his log house we are deciding we would probably rather just buy a triple wide modular or such. What kind of options do we have. Any advisors out there have any advice for a starting point. Thanks.

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They have never lived here. I am the only occupant who has ever lived here for almost 10 years. Is there any way of transferring ownership to me without raising red flags or getting murdered by taxes? I want to be able to get a home equity loan to purchase the property, do some home improvements and debt consolidations but it needs to be in my name. Any suggestions??

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I need some help here, I’m about to set up a meeting on a couple of manufactured houses/mobile homes that I’m interested in. This is really a new thing for me and I don’t know too much about the manufactured housing industry and how it works…(although I’m learning daily)
what are the most essential and even non essential things I should ask about the homes i’m looking to purchase and the financing?
and if anybody has anything else to throw in that’d be great
thanks in advance for the help

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We’d like to put a little recreational home on some Mountain acreage and are tossing around either a log cabin kit or possible a modular.. Has anyone had any good/bad experiences with any of the builders? Thank you!
I saw what looked like a good one that sells them Nationally on an info commercial last night, curious to see if anyone else used same…
You have a good point re; making sure the sales dept. is a good one. Thanks!

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I would appreciate the input from bankers, mortgage brokers and Realtors alike. By the way, I need a Realtor who understands the VA Home Loan process. I want to buy a home in Central Florida (Orlando, Kissimmee, Deland, Winter Heaven, Winter Park, Sanford, etc.). Contact me at dgon1329@aol.com if you need more info to answer this question.

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A) they aided the growth of industry in the Midwest.
B) they are still important trade routes today.
C) cities connected by this transportation network are home to heavy manufacturing.
D) they have helped the region become the nation’s center of business and finance.

Thanks so much in advance for all the help!

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My wife and I both have excellent credit, and started a refinance on our home with Countrywide… They wanted to do most of it by fax, so the broker never came out to our house.

She sent an "opening package" that was like 8 pages for us to sign that estimated 00 in closing costs for an interest rate of 6.3 – an exhorbitant sum in closing costs and only an average interest rate. We were going to do it anyway though and she sent a "mobile closer" to our house who was supposed to get everything signed in 15 minutes and be out the door.

They tried to pull a classic bait and switch, and the the notary showed up with paperwork that had 50 in closing costs! The closing was only supposed to take 15 minutes because they were hoping I would not read everything.

I asked them to leave and did not sign the paperwork. Where can I report these folks for pulling a scam like that?

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