The Manufactured Housing Forums

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

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

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.

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.

Is this program available in Indiana.

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.

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