Are Manufactured Homes A Poor Choice in Housing?
They are hard to finance, not impossible but w/o the ability to get a 15 or 30 yr. fixed loan; is buying a manufactured home a poor choice? ARM loans only forever! Selling in the future given today's limited financing choices really reduces the number of eligible buyers.I'm looking at a double wide foreclosure in northern Minnesota and very concerned that it'll take a year or more to sell. Am I being overly concerned or is my nervousness justified?Some manufactured homes are used in areas where the original buyer didn't want to commit to a regular build. Some lands here are owned by Land Companies and are leased...can't build on them but generations of folks have lived on these properties for years, one stipulation the companies have is you can't build on the properties.
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