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	Name:	Freshwater Bay Girl -
	Subject:	I think you missed the whole
	Date:	2/20/2009 4:23:07 PM

point!The point is that their interest rate is "13%" and the banks will not consider refinancing because they treat it like a "Used Car" and are not regulated to do so. The people who are living is these mobile homes do not look at it as a "car". This is THEIR HOME! The reason they are struggling (they have not missed a payment) is because they got laid off from their job or they were self employed in the construction business. Regardless he went out and got another job, but it pays a little less but he's not standing in line for a hand out. He like anyone else was looking for the source to refinance. You would do the same thing if your loan was @ 13% and you knew you could be paying a lot less. His credit is in good standing and he has income. This is a young man in his early 20's and single. The banks will not refinance the mobile homes. The companies that have been financing the mobile homes will not refinance because they ARE in trouble due to bad loans. They will not take any additional loans on the existing property even if someone wanted to buy it from him. He is in a lose lose situation!
I am the park owner so believe me I know the business. My heart goes out to them, because I know them. I educate them when I can and I watch these people take their baby steps and go out into the world, buy their land, then build a home, then have children and see the circle of life before my eyes. I have couples that are both nurses and going to school to be Anesthesiologist while raising two children and trying to keep them out of an apartment atmosphere. So please don't stereotype them in any way.
The manufactured housing Association for the State of Alabama has just had it passed in legislature and it will go to the Senate for approval that all manufactured homes will be given a title as a manufactured home. They will no longer be classified in with automobiles, RV's etc.. This is a step in the right direction. I was not looking for handouts for these people, only fair and balanced treatment. The things I expect for myself! If I didn't care, I would be holding the mortgages @13%. That is a hell of a lot more that the bank is paying me right now! So on that note, may God Bless them and I will continue to fight for fair and balanced treatment!