Disclosures for land refinance with mobile home

Posted By: Arizona

Disclosures for land refinance with mobile home - 03/28/13 02:45 PM

If a borrower has land on contract that they want to payoff with new loan. What disclosures if any would be involved if there is a mobile home on the land that the borrower is residing in and is financed with another lender? The mobile home is not permanently attached to the land and would remain financed with the lender that currently has the loan.
Posted By: RR Joker

Re: Disclosures for land refinance with mobile home - 03/28/13 02:49 PM

I would say that the MH is permanently attached, however since you do not hold title, another lender does, it will be a loan just on land.