Re: Mobile home titles - Posted by Pat
Posted by Pat on March 15, 2001 at 12:26:09:
When a mobile home on land is turned into “real property,” a.k.a. purging the title, the mobile title or titles on a dbl. wide are destroyed because you now are titled as real prop.(real estate) just as if that home was built where it sits on the land. This assumes the home is on a perm. foundation accepted by the local county & meeting county codes. Your investor will also have guidelines to be met re. the foundation. There are a few loan programs that will put a lein on the home & land without a “perm. foundation” but the rates are not as low as they would be if you had a HUD code foundation. Please feel free to call me at 303-487-7748 & I’d be glad to explain in more detail. I’m also a mortgage broker w/ 6+ yrs mobile home lending experience, both in park as well as land/home transactions are currently a majority of my finance business. Hope this helps.