Why are rates so high on mobile homes?
970243
The value of a mobile home decreases with each day.... unlike a brick and mortar home, which USUALLY increases in value.  \n\nLenders look at mobile home loans as a higher risk for them and therefore charge more interest on those loans.
39377
Bad news....chances are you aren't going to find much luck.  Most mortgage and finance companies tend to avoid mobile home loans, as they assume that the lifespan of a mobile home is only 20-30 yrs.
756581
I would think that you can get out this contract based on the following information: modular homes are not the same as a mobile home/trailer. Those are called maufactured homes in the industry. Mobile homes should be a lot less than a modular home (Example-think, Extreme Home Makeovers: these are typically modular homes: no trailers in sight) Good Luck.\n\nhttp://homebuying.about.com/cs/modulareducation/a/modularhomes.htm\n\n\nFacts About Modular, Manufactured & Site Built Homes\nWhen you are buying a home, you might hear the terms modular homes, manufactured homes and site built homes. It's important to understand how they all differ, no matter whether you are purchasing an existing house or plan to build on land that is subject to restrictions. The differences can affect a home's price and its resale value, and even dictate whether or not it can be built on your land.\n\nWhat Are Site Built Homes?\n\nThey are constructed entirely at the building site.\n\nThey conform to all state, local or regional codes where the house is located.\n\nOften called 'stick-built' houses.\n\nA well-built, cared for site-built home generally increases in value over time, although its location plays a key role in value.\n\nWhat Are Modular Homes?\n\nModular homes are built in sections at a factory.\n\nModular homes are built to conform to all state, local or regional building codes at their destinations.\n\nSections are transported to the building site on truck beds, then joined together by local contractors.\n\nLocal building inspectors check to make sure a modular home's structure meets requirements and that all finish work is done properly.\n\nModular homes are sometimes less expensive per square foot than site built houses.\n\nA well-built modular home should have the same longevity as its site-built counterpart, increasing in value over time.\n\n\nWhat Are Manufactured Homes?\n\nFormerly referred to as mobile homes or trailers, but with many more style options than in the past.\n\nManufactured houses are built in a factory.\n\nThey conform to a Federal building code, called the HUD code, rather than to building codes at their destinations.\n\nManufactured homes are built on a non-removable steel chassis.\n\nSections are transported to the building site on their own wheels.\n\nMulti-part manufactured units are joined at their destination.\n\nSegments are not always placed on a permanent foundation, making them more difficult to re-finance.\n\nBuilding inspectors check the work done locally (electric hook up, etc.) but are not required to approve the structure.\n\nManufactured housing is generally less expensive than site built and modular homes.\n\nManufactured homes sometimes decrease in value over time.
19757
You could talk to a real estate agent, but I advice you not to purchase a mobile home cause when you try to resale it. It will be very hard.
261802
The Florida Bureau of Mobile Home and RV Construction is the oversight agency for this industry.  You may review their site for further information and contacts respecting your question\n\nHope that helps.
336208
It varies a lot depending on the location and how fancy you want to go. I'm married to a military man and we travel around the country a lot. On the east coast in Maryland we paid about $1100 for rent, but in mid-Michigan I paid $499, and that was for a townhouse! Are you renting month-to-month or did you sign a lease? Signing a lease ensures that your rent won't raise until the lease contract is up, even if the property value goes up.
984392
Start looking at used mobile homes.  They are about as cheap as you can get.
888398
I don't think you can get a loan for a mobile home without putting at least 10-20% down. Mobile home is personal property and not real property. Therefore, a bank will treat it like a car or TV. Land is certainly real property. However, in most cases mobile home owners don't own the land. They lease it. You should double check if the land comes with the price. If it does, you may still have to come up with a significant downpayment.
49831
The "house arrest" would probably be set to a specific address as opposed to something that can move.  Then again, a "moble home" isn't exaclty mobile, so where would you go?  It's not like they are on wheels and can be hooked up to a trailer.  Did you mean to say motorhome?
398581
Increase in mobile home parks? ~:)=
831257
I am not sure, but I can not imagine that is a law anywhere.\n\nMaybe you have misread, or misheard the rule.  Just a guess, but perhaps it is stated something like, "can not charge over 6 percentages higher than the current rates."
389057
I agree with VATreasuries, whom I will say has a very appropriate user name.\n\nHigher interest rates affect the monthly amount of money that people need to debt service a property.  Essentially, if money costs more... their costs are higher accordingly.\n\nOther factors like taxes & hazard insurance have similar effects (we Floridians know this all to well) restricting value.  Herein Monthly Costs.\n\nWhen these Monthly Costs exceed pace of income growth to where they become a higher ratio of gross income needed to service monthly... property values tend to recede.\n\nThese past years have arguably been an anomoly... largely because of an influx of investment dollars into real estate holdings.
154381
solution is to refinance. you must get a broker or loan office that does this, as lenders are few and far between. amount of money will depend on age of mobile home, etc.
291241
mortgage rates are on the rise, that usually limits house price appreciation
1045016
The highest as of right now is around 5.46%, but it has a minimum of 10k.  This is at Countrywide in CA.\n\nBankrate typically lists quite a few.
317227
I would think that you have a good case to bring forth, but living in a mobile home park myself (in California) if your park is owned by a major corporation (such as ours) I don't know if you would have too much luck without taking a legal stance.  We, ourselves, are going through it with rent control issues (our park has raised our space rent $200 in the last 3 yrs) and it is terrible for seniors.  Prayers go out to you in Florida =)
221256
At this point, buying a house in Orange County may not be the best purchase you could make.  Housing prices are at an all time high right now but they look to be heading back down.  That could put you upside down on your loan (i.e. you would owe more on the loan than the house is worth).  The prices are so high here that some of the people I work with are selling their houses for a large sum and moving into rentals until the prices move down.  Then they will buy another house and have made a profit on their old one.