We now have the
availability to pklace a reverse mortgage on a manufactured home.
The basic requirements?
- Built after June 15, 1976 and newer – The manufacture date is confirmed by the HUD tags
affixed to the subject home. No exceptions.
- Manufactured home must be doublewide or more
- Minimum home size of 800 sq ft
- Maximum lot size of 10 acres
- Affixed HUD Tags –
The manufactured home must have the HUD tags affixed to the outside of the
home. If the home is a multi-wide unit, each section must be labeled. The
appraiser is required to list the label number(s) on the appraisal report
in one of the comment sections.
- Permanent Foundation –
The home must be affixed to an FHA-approved permanent foundation.
As always, please call
me with any questions!
Scott Larson
Reverse Mortgage
Specialist
(408) 315-2503 direct
(408) 872-4002 fax
The Information Age
offers much to mankind, and I would like to think we will rise to the
challenges it represents. But it is vital to remember that
information – in the sense of raw data – is not knowledge, that knowledge is
not wisdom, that wisdom is not foresight. But information is the first
essential step to all these. -unknown
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