Upgrade M.H. for financing purposes.

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RobertDMR
Posts: 3
Joined: Sat Oct 07, 2006 5:59 pm

Upgrade M.H. for financing purposes.

Post by RobertDMR » Sat Oct 07, 2006 6:09 pm

I would like to know if anyone has information on upgrading a manufactured home (to what lenders consider) a standard home. I am located in Los Angeles County C.A.
I am having problems securing financing venues due to the fact that most lenders will not finance this type of housing.

My house would be worth over $800,000 if it was considered a house. But due to lending constraints we are not able to utilize the equity.

Thank you,
Diane

rmurray
Posts: 1086
Joined: Thu May 25, 2006 6:49 pm

Re: Upgrade M.H. for financing purposes.

Post by rmurray » Sat Oct 07, 2006 7:41 pm

There is no way to change a manufactured home to a site built home...Lenders do have different programs for each...I would think telling a potential buyer it is something it is not would open you up to sever liability as well...

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