The safety of factory-built housing during tornadoes and hurricanes is one of the most common concerns raised by potential homebuyers. If you’re planning to buy a manufactured home soon, knowing whether or not it can withstand extreme weather conditions is very important. To put your mind at ease, we’ve done some research on the safety of manufactured homes during tornadoes and hurricanes. Here is what we’ve found out.
Manufactured Housing News
The United States is currently facing a persistent shortage of affordable housing, which has spread from densely packed cities to many metropolitan areas across the country. Despite the recent improvements in housing output, the housing affordability crisis continues to deepen, driving up home prices and rental rates faster than wages. According to NLIHC, most renters spend 30% or more of their income on rent. This basically means that many Americans aren’t able to comfortably pay rent or buy a home, and still have enough money to cover all of their monthly expenses.
Most manufactured homeowners refinance their manufactured home loans in order to lower their interest rates and monthly payments, shorten the repayment terms of their loans, tap into their home equities, or to consolidate debt. Basically, refinancing involves replacing an existing manufactured home loan with a new loan that pays off the remaining balance on the original loan, while offering one, more, or all of the aforementioned benefits.