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ibc: Consumers asking questions............ - 12/19/07 08:48 AM
Thank you to Dan for this question.
We are currently in the market for a manufactured home.  Our mortgage broker suggested that we go with a modular home (6.1% interest vs. 6.7% interest).  We spoke with some manufactured home dealers that also offer the homes as modulars (revomal of the frame).  My question is, why would all of the dealers try to talk us out of going with the modular and to stick with the manufactured? Is there an advantage for the mortgage broker if we go modular or is there an advantage for the dealer if we go manufactured?
There are really two different answers … (1 comments)

ibc: Modular, Manufactured or Mobile ---- The Final Word - 11/21/07 10:16 AM
What do these 3 words have in common other than starting with the letter M?    Just that most people use them like we use the word xerox for copy.  And why should you as a real estate professional care?  I mean aren't they basically the same thing, built in a factory and way cheap? Right? And to be perfectly honest there are some investors that do not know the difference, their guidelines say they will not finance modular homes with a HUD TAG and they think manufactured homes are single wides.   After all the main definition of modular is anything that is built in 2 … (5 comments)

ibc: On Frame Modular VS Off Frame Modular from a lenders point of view - 09/17/07 07:45 PM
I had a very wonderful phone conversation today with a young lady seeking some clarification on this topic.  And I will tell you that there is so much confusion as to what is and is not a MODULAR that we can spend hours discussing this topic and probably not bring much clearing to the fog that surrounds this viable much much put down form of housing.  But I will try to clear the muddy waters.  AS A LENDER I ONLY CARE ABOUT "WHAT CODE IS THE HOME BUILT TO".  I am sorry if the salesperson told your client that the home … (1 comments)

 

Joe Adams

Montrose, CO

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Major Mortgage USA/Branch Manager

Address: 1521 Oxbow Dr #125, Montrose, co, 81401

Office Phone: (970) 252-1700

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