[njbchbum]

Originally Posted by Villages PL

The information I got from an insurance company (several years ago) is that no one will insure a manufactured home that is over 30 years old. So, in order to get a 15 year mortgage, the home would have to be no older than 15years old.

Another example: If the home is 20 years old, you would only be able to get a 10 year mortgage. At the end of 10 years, you would have to sell for cash, unless you're willing to hold the mortgage yourself. No insurance company will hold a mortgage on a home that can't be insured. You would have to find a buyer who's not worried about being uninsured. And, of course, if you hold the mortgage, there would be a risk to you as the mortgage holder.

does that mean that most of the homes are not insured in the those villages? do you think things might have changed since you spoke with that insurance company or that another insurance company would have a different point of view toward writing insurance there?