Saturday!

Hello all! Its Saturday so lets keep it light, huh? I'm still reeling a bit from yesterday's news about the fall of big-time chattel mortgage lender Origen Financial. As if it wasn't hard enough to get loans on manufactured homes. Now, all the more difficult! It is my sincere hope that financing manufactured homes in parks will become easier again. As it stands, the underwriting is very strict. Basically, to finance a manufactured home in a park, one must have really good credit, at least 5-10% down, and a home that will appraise for the asking price- actually 95% of the asking price. I don't know any lenders that will lend 100% value at the moment. We have a little more flexibility on NEW manufactured homes, but not a lot. Conditions very tough. Black Hawk Homes will see it through. We're not afraid of tough times. We're not just strong, we're Army strong... Well, not really. I just like their tag line. I'll have to come up with one for us... hasta luego compadres!