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Posts Tagged ‘automobiles’

Delaware Manufactured Homes Registered as Autos

April 16th, 2013 Comments off

Following up on a story MHProNews posted April 12, 2013 concerning a Delaware initiative to provide up to $5,000 to help manufactured home owners in financial hot water, we have learned Del. manufactured homes are registered through the Dept. of Motor Vehicles like automobiles, a throwback to the early days of pre-HUD Code homes. As WBOC-16 notes, this makes it difficult to obtain mortgage assistance. Often, especially for elderly residents, if a spouse dies and the survivor loses the deceased’s Social Security, it can become catastrophic to pay for the home and the site. Rep. Ruth Briggs King, who represents a district with numerous manufactured homes, and whose uncle owns an MHC, was one of the early supporters.

(Image credit: Wikipedia–image of Delaware)

MH Should Assess Less than Site-Built

June 28th, 2012 Comments off

From Canandaigua, New York writing in MPNnow, Don Semifero offers percentages of differences between a site-built and a manufactured home to make his case to the Victor, NY assessor that they should be assessed at different rates. He ticks off the percentages MH owners lose: 2-3 percent for not owning the land and thereby losing upgrade value; another 2-3 percent for not having the storage of an attic or basement; five percent sales tax on MH; the difference between a mortgage and a chattel loan in payments and interest rates, ten percent; MH owner cannot get a home equity loan to upgrade residence (minus five percent), nor claim taxes on income tax return, 7-10%; and MH depreciates like automobiles. MHProNews has learned he suggests an assessment rate of 60-65% of market value.

(Photo credit: TriStar Estates)