If not the 21st CASH system with their licensed originator, then how to sell new homes like Legacy’s where their in house 75% financing is to the park, how does the park put buyers into those homes and be Dodd Frank compliant?
How are folks filling empty pads with new homes if the high expenses of 21sts CASH program results in too high of a total monthly to work for your area? See the other CASH threads. I posted my first hand experience with our first 2 truMHs homes in on the CASH program.
21st did it right using licensed loan originators. But Legacy just for example finances to the park, leaving the park facing the dodd frank lending to the occupant issue?
I just don’;t see a rent credit program for a $25k home + setup $8k including AC working out where folks actually end up buying a home. Or looking too much lending to occupants when we might have 25 of these in the park. I’m waiting for some state to start going after parks doing a lot of these concurrently.
I think a few rent credits on older used homes that the title is transfered in 3 yrs is getting over looked by the states and CFPB. But 25 homes at $30k of rent credit payments each, that’s a bigger target I feel.