FHA/HUD rulings in 2009 have made it possible for more Mobile/Manufactured home owners to qualify for the Reverse Mortgage Program.
Reverse Mortgages in Condominium Mobile/Manufactured Home Communities are now possible with some restrictions.
Permanent foundations are required for all Mobile/Manufactured Homes if they are to qualify for the program. Retro-fitting may be done as a part of the Reverse Mortgage Package.
Condminium Mobile/Manufactured Home developments will be required to apply directly to H.U.D. for project approval. You may request a copy of the
regulations and the application forms on this web site.
Mobile/Manufactured Homes must have been built 1976 or newer and have the
HUD tag attached.
An Engineers Certification that the foundation is HUD compliant will be required
in all cases. Structural Engineers typically provide this service. If retrofitting is done to qualify the property an engineers certification is generally included in the foundation packages cost.
For details contact:
Ken Terrill - 800-481-9999 toll free or 619-299-3863