Re: unfair

Posted by JerNTN (24.158.147.91) on August 04, 2004 at 10:23:45:

In Reply to: unfair posted by lucewebb on August 04, 2004 at 10:02:00:

Even though your mobile home has several additions to it, lenders factor in the depreciation issue when financing them. In most areas of the country, mobile homes depreciate at a very rapid rate; whereas, the standard structure home increases in value unless you're in a resort or retirement community. It doesn't seem fair but that's the way the financial gurus control the market. They also realize that not ALL lending institutions will finance mobile homes, thus the higher interest rates.

Alot of times, you can find better interest rates for financing mobile homse at small banks rather than larger mortgage companies.

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