Mobile Home Loan Delinquencies Up 200 Percent In The Past Year

Mobile Home Loan Delinquencies Up 200% In 12 Months As Lower Income Americans Struggle To Make Payments

mobile home loanThe mobile home loan delinquencies have doubled in the past twelve months according to UBS.
Manufacturers of mobile homes and manufactured homes are feeling it as the report is causing resale values to plummet.
UBS is reporting the delinquency rate on mobile home loans has increased by 200 basis points over the past year. The Swiss-based bank is claiming the 30-day-plus delinquency level now at around 5%. This is the highest level of mobile home delinquencies since 2005.
The increase in the number of struggling mobile home borrowers suggests these individuals haven’t benefitted from the economic growth of the past few years
The UBS report states:

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