If you are interested, please let me know.Ideally, we can work something out where you pay me a lump sum spread and you assume the loan, that is the best win-win situation. 

Hello BiggerPockets Community,I'm facing a situation that many of you might have encountered or could provide insight on.

That trend stopped after the 70's but manufactured housing was a major contributor towards creating stable affordable housing.If we want to tackle our housing shortage we need to get serious about it.Here is a quick summary of the HUD changes: HUD Actions for Manufactured Homes and Communities:HUD announces a comprehensive set of actions to increase availability and affordability of manufactured homes.These actions are part of the Biden-Harris Administration's Housing Supply Action Plan.Manufactured housing is a key component in the strategy to boost housing supply and reduce costs.Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program:HUD launches the PRICE Program, a $225 million competitive grant opportunity.The program aims to preserve and revitalize manufactured housing and communities.Funding supports repairs, rehabilitation, replacement of units, infrastructure upgrades, and community resilience.Available to states, local jurisdictions, tribes, nonprofits, community development finance institutions, and other eligible entities.FHA Draft Policy for Manufactured Home Communities:FHA posts a draft policy to solicit public feedback.The policy aims to promote stability and affordability for individuals and families in existing manufactured home communities.Allows resident-owned cooperatives and mission-oriented borrowers to access FHA-insured financing for purchasing or refinancing.Updates to FHA's Title I Manufactured Home Loan Program:HUD announces updates to FHA's Title I Manufactured Home Loan Program.New methodologies for calculating loan limits to align with current market pricing.Expects the new loan limits to incentivize more lenders to participate and expand program usage by buyers of manufactured housing.Annual Recalculation of Title I Loan Program Limits:FHA will recalculate Title I loan limits annually to keep pace with home price changes over time.This ensures that the loan limits remain aligned with market conditions.Ginnie Mae's Title I Loan Securitization Program:Ginnie Mae takes steps to reinvigorate its Title I Loan Securitization program.Revisions to financial eligibility requirements for Title I Issuers to reduce barriers and increase lender participation.HUD's Ongoing Support for Manufactured Housing:These actions build on HUD's continuous efforts to support manufactured housing.Earlier actions include a proposed rule for the Community Development Block Grant (CDBG) program emphasizing the needs of manufactured housing communities.Recent Updates to CDBG Notice:HUD updated the CDBG in Support of Housing Activities notice to allow the use of funds for acquisition of manufactured housing units, services to homeowners, and investments in infrastructure and resilience for manufactured housing communities.

They may offer insightful information, support you in seeing prospects, and walk you through the buying process.Ultimately, your financial objectives, risk tolerance, and personal tastes will determine whether you want to investigate investing alternatives elsewhere or take up house hacking in San Jose.

And it also depends on your overall financial/tax situation.

Once the borrower realized we were serious and the foreclosure date was set, the borrower reached out in September with a Financial Hardship Application.We analyzed the financials and offered a trial payment plan along with a loan modification upon completion of that payment plan. 

I really feel for you as I've been in this same situation with my mom and know exactly how expensive it is.

It ultimately comes down to your budget and desired level of privacy in your living situation.

But hey, everyone's situation is different, so weigh your options and go with what feels right for you guys!

Something else to consider is your current financial position as construction/renovations requires capital.