All Forum Posts by: Carlos Lugo

Thank you for the information Caroline.

The property is actually in Palm Beach County, but I know where to look up permits. I don't see any reference to 433A but there is a permit (passed inspection) for the tiedowns from when it was installed. I suppose that's not exactly the same thing as an inspection of the foundation. 

It is a block and pier foundation (also noted in the appraisal report). Do you recon this is the problem even though the report also indicates permanent foundation? There's no pictures of the underneath with the report (or at least none that I received). 

I suppose my biggest question and gripe is how did they decide that it's not a permanent foundation when the appraisal report clearly states that it is. 

This is a rental property and was always going through a private lender.

 Thank you Caroline. I'd never heard of a 433 A, is that applicable in Florida? 

I had conversations with the loan officer about the foundation prior to paying for the appraisal. After some back and forth, we concluded that it is attached to a permanent foundation. 

The appraiser did confirm some preliminary information with me before completing the report. I feel like the appraisal report confirmed the permanent foundation. It is clearly checked "yes" for the question "Is the manufactured home attached to a permanent foundation system?" I don't see any conflicting information.

This is why I'm confused now and seeking information from others who may have dealt with this before. The home was built well after 1976 (2007), it's a double wide, and the land is included.

I'll be calling the loan officer again tomorrow to hopefully get a better understanding of what's going on. 

Thanks for the reply Erik. 

Before I saw the appraisal report I was told they won't lend if it's not on a permanent foundation. Once I saw the appraisal report I'm told "it’s not an actual concrete foundation."

Just feels like the story is changing as the process goes on. But I can accept if I'm just misunderstanding something. 

I'm trying to do a cash out refi on a manufactured home that I own free and clear. The appraisal clearly states that the home is on a permanent foundation but the lender says they won't do the loan because it is not on a permanent foundation. What gives?

Has anybody experienced this and can offer me some insight into what's going on here?