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#2291371 - 12/05/23 07:28 PM Mobile Home - Fee to Delete Title
Tarhe Online
Diamond Poster
Joined: Nov 2006
Posts: 1,457
California
We are making a loan to purchase a manufactured home that will be permanently located on the land. The title will be changed from the Dept of Housing (as titled collateral) to a real estate title with the land. The title company is charging a fee to remove the mobile home from the HCD records. Would this fee impact the APR as a prepaid finance charge? I'm thinking NO, because this fee would be charged in a cash transaction as well.

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Lending Compliance
#2291379 - 12/05/23 08:23 PM Re: Mobile Home - Fee to Delete Title Tarhe
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,775
Bloomington, IN
I'm thinking NO, because this fee would be charged in a cash transaction as well.

I would agree.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2291391 - 12/05/23 09:44 PM Re: Mobile Home - Fee to Delete Title Tarhe
Tarhe Online
Diamond Poster
Joined: Nov 2006
Posts: 1,457
California
Thank you!

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#2291394 - 12/05/23 10:29 PM Re: Mobile Home - Fee to Delete Title Tarhe
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,911
Galveston, TX
Well, maybe. Would you make the loan either way? As in, if they would choose to keep the mobile home as personal property it would have no impact on your loan one way or the other?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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