A few years ago, Hemet in Riverside County was a hotspot of mobile home lending. There are an unusually high number of MH parks in Hemet that are land/home communities. In other words, the owner of the home also owns the lot, rather than leasing the lot.
Two communities primarily were on fire with sales: Sierra Dawn I & II.
In both communities, 95% of the MH's are pre-Hud homes, and not on foundations. Therefore, in the current market, totally unfinanceable, with the exception of a local credit union, I believe.
However, I did have a lender financing this type of collateral for many years, but that lender has ceased lending in CA.
Call me any time for advice on MH transactions.
1-800-401-3372
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Thanks for sharing, I will bookmark and be back again
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