Well, who’s left? Now GMAC Finance Decides To Hit The Exit Door and Abandon Manufactured Homeowners Nationwide.
It’s not enough that TAYLOR, BEAN & WHITAKER MORTGAGE CORP hit the skids and a very viable lending source for Manufactured Homes fell by the wayside. Now to add to the pain GMAC as just announced their departure.
Where’s Obama and his boys on this debacle? Where does that leave the Manufactured Housing Industry? This could cripple if not fold one of the largest and most vital segments of the entire housing industry in the United States. Thousands perhaps, hundreds of thousands of Americans could lose their jobs adding staggering numbers to the already exorbitant unemployment figures.
Factories with thousands of employees across the Nation may have to close their doors. Manufactured Home Dealers, Retailers, Developers, etc. will be dormant and will have to lay off their employees. Some will even go out of business altogether. Thousands of contractors, Manufactured Home installers and myriad service and support personnel will be out of work.
There’s just no rhyme, reason or justification for this abhorrent and negligent behavior from our so called leadership. Manufactured Housing is the last bastion of affordable housing in America. Millions of homeowners and potential homeowners from every corner of the Country depend on the availability of financing for Manufactured Homes.
One would think with all the Trillions and I say Trillions with a capital “T” of dollars that are being recklessly doled out to lenders, banks and some of the largest financial institutions in the world that there would be some form of reasonable funding available for this very vital segment of the American housing industry.
What more does an industry have to do to convince the world that Manufactured Housing is a very viable, thriving and state-of-the-art entity and fills a very significant and important void for existing and future homeowners Nationwide.
Let this industry fail and you will displace if not render potentially homeless, millions of homeowners across the country that are in need of funding for their Manufactured Homes. If you want to see a downward spirel snowball into an avalanche of financial catastrophe just sit on your hands awhile longer and watch. Or we can all beat the drums and inform our leadership of this pending doom and help bring about some form of resolve for this industry. If we just continue to stick our heads in the sand this will exacerbate the already crippled mortgage and real estate industry even further.
Please for the sake and future of the entire real estate industry pass this on to all your family, friends, neighbors, associates and even competitors. Let them know that they need to be heard in Washington because unfortunately in this situation they’re about the only source we have to enforce a mandate on the financial industry. Our voices need to be heard. The financial industry needs to make room for reasonable and competitive funding for long term low interest loans for existing and future land/home Manufactured Homeowners.