I never thought that I would see the day when:  We scrambled around the office looking for a lender!  I know I'm fairly new to the business, but WOW!  It is hard to sell real estate when you can't find these people a lender.  This was a mobile without brick underpinning/ and the clients had fair credit.  One agent said "Let's call American Home Mortgage"  and my response was "closed".   Even our preferred lender could not touch this one because of the mobile without brick underpinning.  I am suprised at this, but i guess this is just economics!  It shall turn around at some point.
 
Posted by Stacey Ward on 08/11/2007 01:22 PM   Comments (4)  
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4 Comments on I never thought I would see the day

AUG
12
2007
304,064 Points 15 Featured Posts Localism Sponsor Outside Blog
Hi Stacey,
I've never worked with a mobile home but my guess is it had something to do with being on a permanent foundation?  But as for placing loans with a lender, things are sure changing.
8:09am • #1
357,394 Points 15 Featured Posts Localism Sponsor Outside Blog

Hi Stacey,

With all of the subprime lenders getting squeezed and going under the credit market is tightening quickly.  Loans that would go through in the past very easily are being rethought under the current conditions.  Good luck.

9:21am • #2

These are difficult properties to finance as they are not permanently attached to the foundation.  My Company Countrywide won't do them either.

Greg Z
2:43pm • #3
SEP
04
2007
258,293 Points 6 Featured Posts Outside Blog

Tracy, Manufactured homes must be on a permanent founation to be eligble for financing. No exceptions>

Ginger
2:10pm • #4


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Stacey Ward

Ocean Isle Beach, NC

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Weichert Realtors Southern Coast

Address: 925 Seaside Road, Suite 18, Ocean Isle Beach , NC, 28469

Office Phone: (910) 579-4441

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