The Manufactured Housing Forums

The company responsible for inspections of Skyline Corporation is astounding. EACH time I have contacted them, they are very anxious to take care of looking into the problem. I have contacted them no less than seven times over the past two years and each time they promtly return my phone calls and are very concerned about the problems. The DAPIA just a few weeks ago sent one of their employees to see the MH I have first hand and discuss the problems. Though they can't give me answers, at least I know that there is someone on the industry who will listen and look into problems with the MH. HUD has contacted me twice in the last four months, concerned that work is being done. I have had to tell them that Skyline has not contacted me and the work is not done. The SAA sent me another communication which they sent to Skyline telling them that they have 20 days to fix the bowed and broken floor joists. Underwriters Laboratory called me today concerning the improper operation of my Coleman Furnace.. The squeeky gear gets the grease... Though I should wait to see if things get done before I wave my flag....

No, it's going to work out for you, Richard, but I really think you just got a lemon. I can't believe that your experience is typical of Skyline. I was at a Clayton dealership recently and the salesman showed me this BEAUTIFUL house with one of the prettiest kitchens I've ever seen. I was oohing and aahing over it and then I found out it was a Skyline. I didn't quite understand the explanation of why a Clayton dealership had a Skyline on the lot (I think they bought somebody out and had to take all remaining stock), but the house was just S-o-o-o-oo- superior to most of the homes I've looked at -- although Clayton makes some great looking homes - that I can't believe it's all fluff with hidden sub-standard features. To repeat myself - I think you just got a lemon, but I hope everything gets resolved to your satisfaction. Seems to me that Skyline should offer you some kind of monetary compensation for all the aggravation you've been through.

Keep us posted.

One of the main reasons for Clayton's success is that all sales centers can inventory other product beside Clayton...

The top management has a great attitude...The internal competition makes Clayton plants more effecient and in the mean time Clayton sales centers do not miss sales to the other guys good product...

This is one of the reasons that Clayton stock is worth more than all other manufactured home companies combined..

I still don't get it - if that's the case, why don't we see Ford dealerships selling Chevys and vice versa?

Ford Motor company do not own the dealers...and it is not unusual for a dealer to have more than 1 line...I have a friend in a small town that has GM and Ford on the same store..

The top management at Clayton know that not everyone will want a Clayton..So why not sell them what they want...Good business..

I was talking to a Clayton dealer this morning who stated that if I find another house from ANY manufacturer that I want - they (Clayton) will order the house for me and - get this - finance it for me (A+ credit only) for 5.99% and if I buy Clayton's home-owner insurance, I won't have any escrow payments (for the insurance) for FIVE YEARS !!!! I don't quite understand but will get a thorough explanation when I'm decided on what I want to do. This makes no sense to me, but I AM impressed that they'll get whatever I want. I don't know how other dealers can compete with this, unless there's something here that I don't understand.

Well I think the sales person is a little optimistic...I doubt that they can get ANY home that you see in your market area...They might be able to get a similar home though...

5.99%...This is a normal rate in the market today for good credit..Nothing special...

BUT...why on this good earth would you want to finance 5 years of insurance for 30 years...Not very smart...After 5 years of payments you will still owe 97% of that insurance..it is gone..you will pay interest on it for 25 more years...not too smart...It is good for Clayton..they get much bigger commision that way..Also..thier insurance even for 1 year is probably double the price you can get from other insurance companies..

That means with the 5 year insurance you pay what you could have gotten for 10 years from other insurance companies..OUCH

Clayton will also try to sell you life and disability insurance on a single premium (financed with the home) bases as well...Another trap...good for them..not you..

You should pay for insurance as you go...be it homeowners, life of disability...buy it from a agent who specializes in insurance...Pay now...or pay MUCH more later...be careful

Okay, now that I've been thoroughly chastised, I STILL don't understand. I didn't realize that I would be FINANCING the homeowners insurance. This is one of the things that BURNS ME UP about people in Finance - whether it's the dealer, the mortgage lender, real estate agent - WHOEVER. They ASSUME that everybody has a good grasp for finances (I DON'T) and they start rattling off all these figures, interest rates, discount points, etc. It's very overwhelming and intimidating. I'd like to take a money-savvy friend with me but he's so much against manufactured housing that I won't even ask him. Ditto my sister with a good business head and another friend of mine who is very good with figures but prefers to live in a cramped, dinky little townhouse she paid $149,000 for! (And she can hear the guy next door burping!)

Sounds like you need to spend a few minutes (hours) at this site ...if you have not already...

http://www.mtgprofessor.com/

Great site for basic knowledge of mortgages...

You will get a RESPA disclosure for any mortgage you are dealing with..This disclosure is intended to show you the anticipated costs of the loan prior to you making a committement.....There is no reason you cannot ask for a copy prior to signing anything and taking it to an advisor..or faxing it to someone with knowledge..

For a person with really good credit...scores of 620 and up..
Items to look out for..

Origination fee should be no more than 1%..

There should be NO broker fee

Processing fee should be less than $ 400

Remember you can chose attorney..call around and shop prices if you want..about $400 is the going rate...

Appraisal should be no more than $ 350

Underwriting fees, committment fees, other fees are all profit centers for the lender...A good loan will have none of the above

1 years insurance will be shown as a closing cost..because it is required for the loan..If you do not pay this in cash..you are actually financing it for 30 years...

Lenders with escrow requirements (this is all lenders with low rates and less than 20% down)..will reserve 3 months of future insurance and taxes..this will show as a closing cost..

FHA loans will have a FHA insurance fee in the closing costs..2% as I remember..could be more..

Total closing costs of a non-FHA loan should be from 4 to 5%..
FHA will be higher by the FHA fee..

Just remember you are financing everything you do not pay cash for...

Thanks again for the well wishes.