Gina, Other/Just Looking in Santee, CA

How does it work with mobile homes, we dont own land and im sure we owe more then its going to be appraised?

Asked by Gina, Santee, CA Sun Apr 5, 2009

at? how do we get out of it & to buy a real or tradiotnal home.

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Loretta Chia…, , Vernon, NJ
Mon Apr 6, 2009
I am guessing you own a park model and house it on a parcel of land that is rented from a seasonal or full-time living resort. In my area Mobil homes are considered Motor Vehicles and must be registered with local Motor Vehicle department. Mobil homes are transferable in title but the buyer will not be able to obtain a traditional mortgage. The interest rate on vehicle loans are higher. The unit can remain on the property you are renting if the current owner of the land allows the rental to transfer to the new tenant. If not the Mobile home will have to be trailered to a different location. Since you have a monthly payment on it you will be obligated to fulfill the total amount due to the bank or lien holder.
Best of Luck
Loretta Chiapperino
Century 21 Gross & Jansen Realtors
Vernon, NJ 07462
972-764-5555
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