Mortgage Reduction Program

[Mark]

Im wondering what the attitude would be on a bi weekly program in the Manufactured Home business. The income potintial is huge, and your customers will be saving thousands of dollars on thier home. Please advise.

Mark

[Becky]

I am not sure I understand your question, but you have my attention. Could you explain it to me?

[DW Suiter]

Bi-weekly mortgage plans, or "accelarated equity builders" work perfectly with every mortgage except those with a pre-payment penaly "sometimes."

About 10 years can be cut off of a 30 year mortgage and $50,000 plus in interest charges can be saved on a $75,000 mortgage, depending on the interest rate.

I am a sales director for the largest U.S. company offering this type of services.

It is a great after sale item, and may be used as a profit enhancer on every deal.

If you would like more information, contact me.

[Bart Mize]

This is also called the "BUBBA" program with a select "few" manufactured housing lenders.

It is a Bi-Weekly bank draft from the customer's checking account. Since it is bi-weekly the customer has 26 payments drafted per year. (divide 26 by 2 and you have 13 full payments in a year).

This extra payment per year will allow a customer to pay a 30 year loan off in about 21 years.

21st Mortgage Corp. is a Manufactured Housing Lender that offers such a program. If you would like to be signed up with 21st, please call Bart Mize at (800) 955-0021 ext 1091.

21st does Chattel loans (home only) as well as land/home mobile home loans. We do business in 31 states and welcome the opportunity to do business with you.

[Jerry Collir]

Is this program available in Indiana.

[DW Suiter]

The program is available in almost every State.

It is available in Indiana.

In my opinion, every dealership should offer a plan such as this. It helps people save money and generates additional profits for the dealership.

[Angus Brown]

Please contact me, I am trying to either refinance my home or do biweekly.