Puzzled About Manufactured Home Lending and Title Requirements?

By
Home Builder with CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS 521400, 1501015, 01795582

 

Puzzled About Manufactured Home

Lending and Title Requirements?

 

Manufactured Home Lending and Title Requirements

 

 

 

California: The 433A Curative Title Solution

 

The Personal vs. Real Property Puzzle:

Manufactured homes that are situated on deeded real property may still be classified as personal property (chattel) with the

Department of Housing and Community Development (HCD) even though the borrower is paying property tax! Since most

lenders, title companies and attorneys require proof that the home is attached to and classified as real estate via a recorded

413 or 433A document, a last minute discovery that a home has not been properly converted can impede a time sensitive

transaction or foreclosure.

 

Unlike other states where "detitling" or classifying a manufactured home as real property is a paper process that can be

expedited by a homeowner or escrow with relative ease, California has a collection of jigsaw pieces that need to be matched

up perfectly. Curative title requires cooperation of a building authority, contractor, and HCD, all working collectively.

We are uniquely qualified for California's title perfection and conversion process. MH-Processing can put the pieces of the

puzzle together, working with contractors, building departments and the Department of Housing and Community Development

to tackle California's unique 433A issues.

 

The Foundation Certification Solution

Sometimes proof of a 413 or 433A is not enough to satisfy underwriting requirements. For instance, FHA loans and some VA

also require a site specific engineer’s certification that the foundation meets HUD guidelines. Some conventional loans require

that an engineer certify that any additions or modifications do not impact the structural integrity of the home.

MH Processing can help you tackle most manufactured home issues for the sales and lending process, whether it is a HUD

compliant Engineer's Certification or a foundation repair. We talk lender language so let us tackle the difficult questions.

Posted by

Why To Choose Us?

John DL Arenden, Broker 

TAG Real Estate Sales & Investments

TAG (The Arendsen Group) Real Estate Sales & Investments is a full service, one-stop, turnkey, family owned and operated real estate brokerage, General Contractor, Manufactured Home Contractor, Developer, Investor, Property Manager, Interior Design, Engineering, architectural, Landscape design, Expert Witness, Consulting, Curative Title and Troubleshooting company with over 100 years of combined experience in the San Diego real estate sales, construction, design & development arena.

 

 

 

 

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Rainmaker
2,636,857
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's good information that helps the uninitiated to understand the title and lending differences that can occur with manufactured homes.

Jun 20, 2015 07:43 AM #1
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681,624
John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Myrl Jeffcoat 

You are so right about that. Janis has created an entire Nationwide niche on CURATIVE TITLE issues.

Jun 20, 2015 08:22 AM #2
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John DL Arendsen

Crest Backyard Homes "ADU" dealer & Contractor
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