"Fake" Basement
Moderators: Greg, Mark, mhrAJ333, JD
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- Posts: 31
- Joined: Fri Jan 08, 2010 8:00 am
- Location: NY
There are a lot of doublewides around here that have cinder blocks instead of skirting around their double-wides. Is there a benefit to this except for looks? None of them actually have basements.
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- Posts: 31
- Joined: Fri Jan 08, 2010 8:00 am
- Location: NY
So it wouldn't be beneficial to put them under ours?
- Brenda (OH)
- Posts: 325
- Joined: Sun Apr 01, 2007 7:57 am
if the double wides are on land, it may be that the cinderblocks are a qualified installation that allowed the owner to switch the mobile home from personal property to deeded real estate....
in some areas, that increases the value of the home and land because some banks will write (or used to) write limited loans for mobile homes on permanent foundations that also included the land.
It was not as good of terms as stick built housing (I one time heard it was 15 yr loans, and you had to have 30% down) but with the current mortgage crisis, those loan packages types may be gone with the wind....
Brenda (OH)
in some areas, that increases the value of the home and land because some banks will write (or used to) write limited loans for mobile homes on permanent foundations that also included the land.
It was not as good of terms as stick built housing (I one time heard it was 15 yr loans, and you had to have 30% down) but with the current mortgage crisis, those loan packages types may be gone with the wind....
Brenda (OH)