Monthly Archives: September 2015


The modular homes subdivisions must have good management and TIGHT ENFORCEMENT to create stability in the community.  Plus this will maintain the value of homes.   Need variations in way homes at set, landscaping, maybe a man -made lake, etc.  The owners of these subdivisions screen prospective homeowners carefully.   They  go over community rules with them.  Need to be creditworthy who are of good character.  Pets are limited  in size and number & must be controlled.  Some communities specify brand of MH.   MORE TO COME.

‘KNOW BEFORE YOU OWE’ initiative

This initiative, the TRUTH IN LENDING ACT will integrate the REAL ESTATE SETTLEMENT AND PROCEDURE ACT INTEGRATED DISCLOSURE rule (TRID) into existing disclosures from the Dodd-Frank Act.  This takes effect MONDAY, OCTOBER 3, 2015.  These tools are intended to (1)  improve consumers’ understanding of the mortgage process, (2)assist in comparison shopping and (3) help prevent surprises at closing.   The kiT offers (A) a guide to the new mortgage closing forms, (B) a closing fact sheet, (C) a disclosure timeline and (D)  educational videos.  May delay closings a week or so till all this ironed out,  SHOULD HELP THE CONSUMER.


No single “magic bullet” will solve the growing affordable housing development problem in TX cities.  Small traditional stick-built homes or subsidized low-income apartments top the list, BUT manufactured housing (MH) communities could be a viable alternative.   There are 3 in TX & all managers agree it comes down to good restrictions, good management and offering the residents pride of ownership & value in their property.  Financing options are available from FHA, VA or USDA if home is sold along with the  land in a real property transaction.  MORE TO COME.

Changes to TILA and RESPA

The Truth-in-Lending ACT (TILA) and Real Estate Settlement Procedures Act (RESPA) disclosure requirements will be integrated to provide borrowers with simplified documents at application and during the loan closing.  This takes effect October 3, 2015.   The new rule is consolidating 4 existing documents into 2 new disclosures and may take up to 45 days to close a loan.  The buyer is to receive the closing Disclosures at least 3 days before closing or closing delayed.  More on this subject will be coming.