Manufactured Home?

Why is it so difficult to finance a manufactured home? Their was one incident in recent years that changed the face of lending for manufactured homes. A young couple purchased a singlewide trailer with some land. They were having difficulty making payments, so instead of letting the bank take their home they picked it up and moved it. The bank was left with just the land, which without the home was worth significantly less than what was owed. Lenders, being a finicky as they are began to get worried and put strict borrowing guidelines for those purchasing manufactured homes. This incident was not a trend, but no one wants to be stuck holding the bag. Tomorrow we will discuss what exactly is a manufactured home.