Re: Nice unsecured skirted doublewide - - Posted by Anne_ND
Posted by Anne_ND on May 25, 2006 at 06:22:25:
One of the big money-making things I learned at the bootcamp was that the mobile homes affixed to land that Tony and Scott do have cinder-block skirting- that is, it appears the house sits on this foundation, but really the MH is just floating above it. It’s not really a foundation at all, just put there to reassure bankers who want to lend money against real estate. I believe the title to the MH is retired, but the “foundation” is just for show.
Depending on how gullible your local bankers are, this could be a cheap way for you to pull out the 60-70% you need, or maybe even more.
look in the archives for more info.