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Mortgage News for Sunday - March 21, 2004

More Mortgage News
• Low rates fuel real estate bubble fears in U.S.
• Going mobile an option in pricey housing market
• Some mobile home owners feel stuck as higher rents hinder sales
• Home buying more difficult
• Great homes, less greenhouse gases
• S. Floridians pushing up cost of second homes
• Booming house prices turn off buyers
• Here's a plan of action for saving at age 50
Mortgage News
Some mobile home owners feel stuck as higher rents hinder sales - 2004-03-21
Situated on the cliffs overlooking the ocean and its crashing waves, Pacific Skies Estates mobile home park seems a bit like paradise.

Polsky is trying to sell his home cheap, but the space rent will go to $1,200 to $1,400, he said. That, plus a mortgage on a mobile home, has scared buyers off.

The park owner already owns many of the homes in the park, and has purchased them far below market value, according to public records.
Read the full story at The Argus
 
Home buying more difficult - 2004-03-21
About a year ago, a low-income home buyer closing on one of Habitat for Humanity's modest ranch houses might be able to get property insurance for around $350 a year.

A lifetime renter, the single mother of two young children was thrilled to be able to pursue a mortgage on one of six ranch homes under construction on Danvers Way in Hyannis.
Read the full story at Cape Cod Times
 






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