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#85772 - 06/05/03 08:54 PM
Re: Houseboats and HMDA
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Power Poster
Joined: Nov 2000
Posts: 2,701
PA
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For those who can't access the link Randy posted above, here's the description from the ad (by the way, this has been sold, in case you were interested):
"This beautifully appointed floating home occupies the single most breathtaking moorage space available in Seattle. With the sweeping unobstructed full city skyline over the water to the south and west, you will own a unique and very special urban hideaway. This home was built in 1975 and designed by Seattleās premier maritime residential architect, J.W.P. Olsen. It has since been updated and restored with no thought to expense. Custom stainless steel structural fittings throughout the home gather together a sense of space and water living on 3 levels. The dining room opens to a spacious deck, both with full city views. The kitchen features a desk/planning area and high end appliances & cabinetry, e.g. Jennaire, Kitchenaid, etc. The living room features a mezzanine level and has custom built-in furniture & shelving; it overlooks the dining area.
On the upper level is the master bedroom, with more stunning views and a private deck; the 2nd bedroom, convenient utility area, and a wonderful master bath that takes full advantage of the curved glass skylight walls on the north and west sides of the home."
This is most definitely a dwelling. I stand by my original opinion.
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Opinions expressed are mine and not necessarily those of my employer.
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#85774 - 06/05/03 09:00 PM
Re: Houseboats and HMDA
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Anonymous
Unregistered
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Dawnie, The movie was "Sleepless in Seattle".
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#85775 - 06/05/03 09:32 PM
Re: Houseboats and HMDA
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Junior Member
Joined: Feb 2002
Posts: 43
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Randy and Dan, This reminds me of a question I had last year on whether a travel trailer was HMDA reportable. I sent an email to the HMDA help line and the response was: Quote:
If you feel that it is HMDA reportable simply provide the support for your decision, should your regulatory examiners question why it is included.
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#85778 - 06/05/03 10:22 PM
Re: Houseboats and HMDA
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10K Club
Joined: Aug 2002
Posts: 47,535
Bloomington, IN
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David, when it comes to Flood, HMDA, RESPA etc. Your opinion is always welcome and it looks like I'm going to be out classed in this one. It's just hard for me to think of a house boat as a dwelling. So, if a guy wants to buy (or refi for that matter) a Houseboat (and we do have some 2 and 3 story house boats on Lake Monroe but they are "house boats) to use as his "vacation" get away on weekends, would this be reported as a purchase/refi? Geez, I only asked for one thing this week and that was not to put me through another Monday. Look out Miller Lite (I had too much Crown the other night ) here I come.
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The opinions expressed are mine and they are not to be taken as legal advice.
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#85779 - 06/05/03 11:17 PM
Re: Houseboats and HMDA
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Power Poster
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
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Quote:
So, if a guy wants to buy (or refi for that matter) a Houseboat (and we do have some 2 and 3 story house boats on Lake Monroe but they are "house boats) to use as his "vacation" get away on weekends, would this be reported as a purchase/refi?
Are we talking his yacht? It's got a stern and an aft and a bow (I'm mixing my sailor terms). That...is a recreational vehicle no matter the size. Long or short...skinny or fat, pointy ends You get the picture.
If the thing is square, permanently mored (moared? moored?) ok not tied up to the dock with a piece of string, it's probably a house Either a vacation dwelling or permanently occupied, but it's a dwelling none the less.
Flood insurance is available (at least it was when I did home loans) but it had some funny limits. Typically there is also a storm damage provision, which these dwellings are particularly subject to.
If you picture all those horrible pics we see each year of homes being swallowed by overflowing rivers...normally a cow on the roof, that's exactly what one of these puppies would look like (likely no cow). They are damaged by severe flood, being as they're really not made to be transported to such an extent.
They also do have geo-codes, though those changed in 2000 data. They used to have a little rider at the end..I think it was .98 or .99 but I can't quite remember (houseboats don't do well when the water freezes...hence their rarity in Alaska). These went away with the new census and they are now coded to match the land closest to the residence.
Really if you'd see the things, they're floating houses, not remotely to be confused with a RV or boat. They are often confused to be part of the land.
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Dawn Coursey VP/CRA Queen
CRA Rating is in...Oh who cares...I'm home with the baby.
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#85782 - 06/06/03 05:26 PM
Re: Houseboats and HMDA
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Power Poster
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
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I'd call those party boats Dan. Yes they have kitchens and bedrooms, (I've rented one myself) but they're not truely a permanent moored living structure. Definately in the RV category of boats. If this is your only experience with houseboats...I can see why you're swayed towards non-HMDA. But once you see these lovely structures, permanently moored you'd be with Randy and I on this one. I lived in a one story houseboat as a kid. It looked like any other cape cod style home in the area, but it floated It's a great way to live! Yes Bonnie...they're subject to ROR as well. So are we agreed? I don't have to eat my shoe?
_________________________
Dawn Coursey VP/CRA Queen
CRA Rating is in...Oh who cares...I'm home with the baby.
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#85785 - 06/06/03 05:57 PM
Re: Houseboats and HMDA
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Power Poster
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
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Heh Heh Dan, size 13 is why you didn't volunteer to eat your shoe if you were a little off in your reasoning I'm a six...much easier to spread between a lunch and dinner! No, I still wouldn't report those RV type boat's you're talking about. They really are like travel trailors on water. Most definately in the "RV" category of boats referenced in GIR. They aren't built to live in, and infact wouldn't be safe in a storm, less so than a normal boat, so I'd have a hard time calling it a residence. The one we rented had a notice in it that told us where to pull up in bad weather and to get out of the darned thing because it's a death trap if it sinks. (not quite their wording...but close). A real "houseboat" and Randy and I were referencing, isn't a structure you flee from in a good wind
_________________________
Dawn Coursey VP/CRA Queen
CRA Rating is in...Oh who cares...I'm home with the baby.
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#85788 - 06/06/03 06:32 PM
Re: Houseboats and HMDA
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10K Club
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
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Here's a Houseboat link for everyone's viewing pleasure. Quite a lively discussion. I feel very pictorial today!
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Get your facts first, then you can distort them as you please. - Mark Twain
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#85789 - 06/06/03 06:34 PM
Re: Houseboats and HMDA
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10K Club
Joined: Aug 2002
Posts: 47,535
Bloomington, IN
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Thanks Maria, but I can't get to these sites through my firewall so I'll have to wait until I get on-line at home.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.
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#85794 - 06/06/03 07:23 PM
Re: Houseboats and HMDA
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Gold Star
Joined: Apr 2002
Posts: 424
Pacific NW
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The main idea is that a houseboat is not the same as boat you can live on, but a house with a superior marine view.
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Liability for taking my advice is limited to the amount you paid for it.
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#85796 - 06/06/03 07:35 PM
Re: Houseboats and HMDA
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Anonymous
Unregistered
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I'm not sure how we as compliance officers can be expected to determine which houseboat qualifies and which one does not. I'm sure we would all disagree in classifying certain ones. Besides it does not seem any more right to not consider a low income houseboat not reportable while reporting a high income version any more than we exclude low income houses based on livable standards. I've seen plenty of reportable homes that are no where near as nice as some of the houseboats pictured above yet we are instructed to report them.
In my humble opinion a houseboat is reportable or not based on use as a dwelling. If someone lives in a houseboat permanently and has no other residence I do not consider it a recreational vehicle regardless of how nice it is.
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