I recently started the refinancing process of my home, located in Charlotte, and now have told that it must meet the HUD foundation requirements for manufactured homes. I have lived in my home for years with no problems, so what are these requirements and why are they needed?
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We are considering buying a manufactured home on a great piece of land in an upscale neighborhood for cash. It seems to be a good deal even though I know manufactured homes are looked down upon when it comes to resale value. The title search at the county revealed that next to serial # and HUD label it stated PERMANENT FOUNDATION-18551.
If we try to resell the land + manufactured home later, will a mortgage company finance both for a new buyer?
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we are thinking about buying a mobile or manufactured home through hud home loans if thats possible. What kind of things do HUD look for when it comes to people buying mobile homes through their loan programs. I know it must be anchored to the ground and have a secure permanent foundation but I don’t really know anything else? Does anyone know what qualifications a mobile home must meet in order to be approved for a loan to buy?
Will they even consider giving us a loan for a mobile home with acreage ?
I am a first time buyer, will this prove to be difficult for me?
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I purchased an older home through a large realestate company under the representasion that it was a boca built modular. Two and a half years later i went to sell it and the appraiser said it is not a boca modular but a hud manufactured.(doublewide) Making it almost imposible to sell since banks will not finance a manufactured home this old. The realestate ad from when i purchased has boca modular right under the features listing. The realtor even told us it took some doing but they proved it was a modular. (a claim they cant remember now how they proved) Can i sue the realtor for the value difference between a modular and a manufactured?
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I am feeling that previous answers on yahoo answers have been biased based outdated experiences with Manu/Mod housing. I have just visited a manufactured housing institute here in California. And it appears to me that if you buy a modular or manufactured house and set it permanently in the ground so that it is considered and financed as real property, then these type of houses are actually superior in terms of cost, speed, and quality. They are built to HUD and state regulations inside controlled environments. Although there are thousands of styles to choose from, the only downside I see is that you cannot get too tailor the architecture too much. In addition, Warren Buffet just invested billions into some MH companies. I think he is thinking that the cooling in housing is going to increase the demand for affordable homes. Any thoughts, experiences especially here in CA?
Wow………….,
Wow………….,
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