Through repossession or foreclosure if you default on your manufactured home loan, the lender may be able to retake possession of it.
A manufactured house is a variety of housing this is certainly brought to a destination and, as soon as here, is generally guaranteed into the ground or even a foundation. Continue reading for more information on the type of manufactured housing and what the results are if you stop making loan repayments on the manufactured home or in the land it sits upon.
Knowing the Difference: Mobile Phone Residence, Manufactured Home, Modular Residence
Cellphone home, manufactured home, and home that is modular terms which are frequently employed interchangeably; nevertheless, you will find differences.
Cellphone Homes and Manufactured Homes
In 1974, Congress passed the Cellphone Residence Construction and protection guidelines Act (the Act), which directed the U.S. Department of Housing and Urban developing (HUD) to place forth federal construction criteria for mobile houses. Continue reading