FHA 207(m)loan guarentee - Posted by marla

Posted by Dan (NC) on June 22, 1999 at 06:23:06:

Hi Ed,

I finally connected with the NC HUD person with 207(m) responsibility. He told me the first thing they require is documentation of need for new/rehabb’ed MH parks, to satisfy their economist. They need letters from many park managers detailing their vacancy rates. Doesn’t sound like a big deal, except he said they had not approved a single loan in NC in the past 20 years because of the inability of the many applicants to document need! Hoping to creatively demonstrate need, I offered to sell their economist a used MH for $1 if he could find a park in our county that would accept it. Thank God I don’t work for HUD.

FHA 207(m)loan guarentee - Posted by marla

Posted by marla on June 21, 1999 at 17:36:36:

I’ve been looking for online information about this FHA loan. The only reference I’ve found, so far, is at http://mobilehomepark.com/ (thanks for the URL, Ed Garcia!) where the site owners promote an $89 book that’s supposed to guide one through the process of obtaining the loan. I’ve emailed them for general info, but haven’t had a reply, yet.

Any clues welcomed!

Marla (Santa Clara, CA)

Re: FHA 207(m)loan guarentee - Posted by Ed Garcia

Posted by Ed Garcia on June 22, 1999 at 01:54:30:


I gave that site as an example for you to verify the information.

If you want free information, just call and ask me. Come on Marla,
have you ever known me not to be able to get you the right answer (smile).

Here is what to do. Go to (http://www.fhatoday.com/)

When you get there, go to, (Go to HUD website).

From there, go to (handbooks/forms).

When you get there go to the bottom of the page to, (Learn more about
HUD programs).

And finally when you get there go to (Multifamily housing).

This should help you find the information you want to know, and more.
There is a wealth of information on FHA programs.

Why buy information from someone, when HUD will give it to you for free.

Ed Garcia

Re: FHA 207(m)loan guarentee - Posted by marla

Posted by marla on June 22, 1999 at 11:45:52:

Ed, as usual, you’ve come through for me! I didn’t call you back for the additional info when I couldn’t find it was because, quite frankly, I’m just not used to having such a gracious and generous friend/mentor to contact for help! I’m working on that!! ;^)

Thank you!
Marla (Santa Clara, CA)