MHP Soft Second Mortgage Loan

[Rich Hupper]

Hello community.

Does anyone have experience with this loan product here in massachusetts? I am thinking about using it as a first time buyer however I have some questions that I cannot find answers to:

1) Do i build equity like a conventional loan? 2) Do I need to pay anyone else off other than the primary and secondary lein holders when I sell the home. 3) How long do I need to live there before i can buy and new home and rent both units out 4) Can I sell it anyone? 5) Does the home have to be in a certain condition to qualify for the loan?

Thanks in Advance