10/14/2013 - Two new protections and incentives were announced. See the Basics of the Offer page.
10/14/2013 - Town Hall Forum #1 - October 14, 2013, 5:30 pm in the LOWER Clubhouse. Click here for details.
CORRECTION!!! 9/23/2013 - When the financing highlights article was first written, the assumption was that Murphy Bank would offer 30-year mortgages. In conversation with Richard Laxton this morning, he corrected me. They will only offer 20-year mortgages at standard home mortgage rates ... with no mortgage insurance required with 20% down.
9/19 - 9/21/2013: One on One meetings. Karin Staddon with park management and Susy Forbath are holding individual meetings for anyone who has a question or wants to voice their concerns in private. You're encouraged to take advantage of this opportunity. Just call Joanne Mancarella at 805-489-6602 to schedule your appointment.
9/12/2013: Financing will be available. At the HOA Meeting of 9/10/2013, Jeff McAlister inferred that financing our homes after conversion would be difficult because Murphy Bank wasn't big enough, Community West Bank wouldn't loan until 40-50 people had purchased and there were comps for the park, and that none of the big banks would make mobile home mortgages.
My research agrees with the points about big banks and Community West Bank. (See Financing Highlights). That left a question in my mind about whether or not Murphy Bank was "big enough." So I sent Richard Laxton at Murphy Bank an email and asked him if they could handle 50 sales in the first 90 days. (After that Community West Bank would be interested.)
His response was brief and reassuring: "50 lots is fine."
