Manufactured Homes are built to strict, national building codes that regulate design, construction, strength, durability, transportability, fire resistance, energy efficiency, and quality control. Performance standards for heating, plumbing, thermal, and electrical systems are also set. These homes are built in a factory with climate control environment. Each Factory has it's own way of building these homes but all have one thing in common. They are factory inspected by HUD to make sure they conform to all the HUD building Codes.
This code, (otherwise know as the HUD code), is part of the National Manufactured Home construction and safety standards act. The familiar red seal attached to the exterior of the Manufactured Home is your assurance the home has been built to the high standards and passed as many as 200 inspections during it's construction.
Manufactured Homes have become a very affordable alternative for today's buyer! Most NEW Manufactured Homes will conform to VA, FHA, USDA, an convention lending standards. Even in 2008 Zero down loans are still available on New Manufactured Homes.
If you are looking to buy or sell an existing manufactured home on land or in a community call me! I have years of experience selling Manufactured Homes and provide full Listing Services and Buyer services.
(2) New Manufactured Homes Available in Gig Harbor with Garage, Own Land, Warranty for under 200k as of September 2008. These homes are move-In Ready
Jeff Clancy 253-720-7588
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FHA Provisions in the Housing and Economic Recovery Act of 2008 |
|
Effective Date* |
Agency |
Action |
Summary of Action |
Statutory Section |
|
10/1/2008 |
HUD |
Regulatory Moratorium |
1- year moratorium on HUD regulations governing risk-based premiums for FHA. (10/1/2008 ‐9/30/2009) |
§ 2133 |
|
10/1/2008 |
HUD |
Program |
Effective date for implementation of HOPE for Homeowners program; HUD to issue interim guidance and mortgagee letters as necessary or appropriate. |
§ 1402 |
|
10/1/2008 |
HUD |
Plan and Report |
In conjunction with FHA, Neighborhood Reinvestment Corp. and other industry participants, HUD to develop and implement a plan for improving FHA loss mitigation processes. Report on plan to be submitted to Congress. |
§ 2125 |
|
10/1/2008 |
HUD |
Program (pilot) |
HUD to commence pilot program to establish an automated process for using alternative credit rating information for borrowers with limited credit histories. |
§ 2124 |
|
10/1/2008 |
HUD |
Study |
HUD to commence a study evaluating consumer protections and underwriting standards regarding cross-selling insurance, annuity and other related products. HUD to seek input from consumer and other industry group |
§ 2122 |
|
12/31/2008 |
HUD |
Report |
Quarterly report to Congress on loan type and volume, risks, loss rates, and other factors associated with the soundness of the mutual mortgage insurance fund. |
§ 2118 |
|
2/1/2009 |
HUD |
Standards |
HUD to implement fraud prevention quality control screening to minimize default risk to borrowers and the mutual mortgage insurance fund. |
§ 2118 |
|
4/1/2009 |
HUD |
Underwriting Criteria |
HUD to establish underwriting criteria for manufactured housing loans. |
§ 2148 |
|
8/1/2009 |
HUD |
Standards |
HUD to develop qualification standards and protocols for Home Equity Conversion Mortgage counselors. |
§ 2122 |
|
10/1/2009 |
HUD |
Study/Report |
Annual independent actuarial study of the Fund and report to Congress. |
§ 2118 |
|
10/1/2009 |
GAO |
Study and Report |
Study on the costs and availability of credit under the Home Equity Conversion Mortgage program. |
§ 2122 |
|
10/1/2009 |
HUD |
Study/Report to Congress |
HUD to seek recommendations from primary and secondary market participants on updating and |
§ 2126 |
Jeff Clancy 253-720-7588
 
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