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Mobile or Manufactured Home Loans: A chattel loan is often used to finance a mobile, or manufactured, home that sits on a piece of land that is being purchased. The traditional mortgage can’t be ...
Land leases are common mostly for manufactured housing and mobile homes. More than 4 million homes are located in manufactured-home land-lease communities across the U.S., according to 2024 data ...
Mobile homes are often sited in land lease communities known as trailer parks (also 'trailer courts', 'mobile home parks', 'mobile home communities', 'manufactured home communities', 'factory-built home communities' etc.); these communities allow homeowners to rent space on which to place a home. In addition to providing space, the site often ...
Clayton Homes (or Clayton) is the largest builder of manufactured housing and modular homes in the United States. [1] [2] It is a wholly owned subsidiary of Warren Buffett's Berkshire Hathaway. [3] Clayton Homes' corporate headquarters are in Maryville, Tennessee. [4]
The tendency of these homes to rapidly depreciate in resale value made using them as collateral for loans far riskier than traditional home loans. Loan terms were usually limited to less than the 30-year term typical of the general home-loan market, and interest rates were considerably higher. In other words, these home loans resembled motor ...
Latino residents in Ohio and Colorado have filed lawsuits or complaints as experts warn of the risks, especially financial, of renting or buying manufactured homes in mobile pa… Reuters 3 months ago
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