Part II of a Three Part Series
In Series Number One, we reviewed the merits of the Good Faith Estimate and its value to the borrower for transparent disclosure of facts and figures. In the Part Two, we need to address the “service” aspect of the Real Estate Settlement Procedures Act.
When you apply for a home [...]
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REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA): Know Your Loan Ingredients!
Taylor Bean & Whittaker: Not Just Another Bank Failure—You May be Affected and Not Know It!
The fact that TB&W was shut down this week did not create an earth-shattering news event. The reason: the impact of this bank closure is less like an earthquake than a tsunami—the wave of destruction hasn’t hit the shore yet. This a behind the scenes implode and as yet has not completely reverberated to the [...]
Manufactured Home Loans in Condo Park Communities
Park communities represent the most popular setting for manufactured homes. For loan purposes, lenders generally require that the owner of the home also own the land upon which the home sits. Until recently the park also had to be classified as a owner-owned Subdivision or a Planned Unit Development in order for [...]
Manufactured Home Loans:
What’s the Difference Between a Personal Loan and a Mortgage Loan?
Manufactured homes are an interesting animal to be sure. It is the only form of housing that can either be classified as Personal Property or Chattel (like a car) or Real Property (like a regular site-built home) and how the distinction is determined can [...]
Financing and the Manufactured Home
Finding the right lender
Fair or unfair to manufactured home borrowers, most lenders view manufactured homes with derision. We’ve all heard the term —trailer trash—well that’s how most lenders continue to characterize the manufactured home loan. Without owning the land, the manufactured home is pigeon-holed into a high percentage rate personal property loan. [...]
Manufactured Homes and VA/FHA-Insured Loan Qualification
Proving your home is a HUD Home
Manufactured home loans are very unique in that in order to qualify for a loan, the lender has to qualify more than just your ability to repay the loan and the fact that your home is a good risk based on the value. Manufactured homes have their [...]
Manufactured Home Loans: Facts for the Borrower
Most lenders view the manufactured home loan as a “nuisance” loan. No matter what kind of manufactured home you have (even if it has tile roof and drywall interior), you’re going to be lumped into the “trailer” category in the mind of the loan officer. This is just a “loser loan” [...]
Home Loan Modifications Lawyers San Diego
Across the entire country homeowners and citizens are reeling from the fallout of one of the worst housing disasters in history. This crisis centers on large numbers of under-market mortgages that were issued for many years prior to a real estate collapse. The outcome of this unfortunate economic situation has now become a serious problem [...]
