People have stopped paying their mobile-home loans.......anything to be concerned about?


#1

Hello seasoned MHC veterans out there - interesting article below. Any reason we should be concerned?

Thanks for your opinions!


#2

It’s probably a canary for the us economy as a whole.

Not great for parks but looking ahead it probably affects this industry the least when the economy and consumption retreat.


#3

I agree: Not a good sign for the economy. I think some of these new-home lenders are being pretty aggressive on the monthly payment. The key is: Our combined home/lot/insurance payments shouldn’t exceed 33% of the tenants’ incomes and/or the rent on a 3BR Class-C apartment in the area. Whether new home through the CASH program or used home we sell to the tenant directly.