QUESTION:

mobile home in retirement park

do you do reverse mort. on mobile homes without land,?
asked by shey cluff, 2/22/2009
Categories: Reverse Mortgage, Debt and Mortgages
ANSWERS:
Answered by: Wes Hudson, 02/23/09
Overall Rating: Be the first to rate it.

Shey,
Thank -you for your Question. Reverse Mortgages are done only on Manufactured Housing that is has deeded land. The home also should be manufactured after 1976. There are many 55 Communities that are on leased land that prevents them from Getting a Reverse Mortgage as well.
Blessings,
Wes Hudson
weshudson@reversemortgagenation.com
SeniorReverseMortgages@yahoo.com
910-262-4083 direct
Wilmington NC

Login to rate this answer: 1 Star2 Stars3 Stars4 Stars5 Stars
Answered by: SilverSurfer, 05/22/09
Overall Rating: Be the first to rate it.

Here's the new HUD Mortgagee letter on Manufactured homes

HUD Mortgagee Letter 2009-16

http://portal.hud.gov/pls/portal/docs/PAGE/FHA_HOME/LENDERS/MORTGAGEE_LETTERS/2009_MORTGAGEE_LETTERS/09-ML-16%20MANUFACTURED%20HSG%20POLICY%20GUIDANCE.PDF

Login to rate this answer: 1 Star2 Stars3 Stars4 Stars5 Stars
    Post a New Retirement Topic or Question