Looking For Investors For Mobile Home Paper

[alaplante]

Does anyone know how I can find investors interested in mobile home paper in Las Vegas? 

[Rich_in_CT]

Try posting an ad on craigslist.com (free) or run an ad in the newspaper.  You can also try your local REIA:  http://www.reiclub.com/real-estate-clubs/Nevada.html

[real estate 001]

    more information   >>>> What kind of paper is this a mortage   is there a apprasial  in place //on it    >>>> more information please

[71tr]

Isn't mobile home paper treated like a consumer loan, thus no mortgage?

[Sean_L]

Isn't mobile home paper treated like a consumer loan, thus no mortgage?

It is considered personal property unless you own the land and then you can get a mortgage it.

[Mdhaas]

It is considered personal property unless you own the land and then you can get a mortgage it.

The Mobile home must have the wheels, axle and tongue removed.  Then the home must be attached to a solid type of foundation (brick).   The municipality must then "tie" the titles for property and trailer together.

Then it can be classified as real estate and carry a normal mortgage.

[Sean_L]

It is considered personal property unless you own the land and then you can get a mortgage it.

The Mobile home must have the wheels, axle and tongue removed.  Then the home must be attached to a solid type of foundation (brick).   The municipality must then "tie" the titles for property and trailer together.

Then it can be classified as real estate and carry a normal mortgage.

Good point!

[real estate 001]

  all of the posts  are the very reason i asked the questions i asked >>>>  WHAT kind of paper is it  need information  not just it is paper  who could give a good answer not knowing ???

[hammertime]

WHAT kind of paper is it  need information  not just it is paper  who could give a good answer not knowing

    Could you please type/post a little clearer as I am sure that I am not the only one who is confused with your comment.

[Mdhaas]

Good point Hammertime! 

Real Estate 101, please take a little more time when you are posting.  This will provide others with better information so that they can give you the most qualified response.

I think the questions  (after consulting my jibberish dictionary) are as follows;

What kind of paper is this a mortage   

No.  The note is similar to that of a car, tractor or truck note.

is there a apprasial  in place

Not when it is not a mortgage.  The value is decided by resell value and depreciation.  I believe they use something similar to the "blue book" used by car dealers.

[Rich_in_CT]

I think NADA also publishes a mobile home guide similar to their car guide.

[drcpr]

It is considered personal property unless you own the land and then you can get a mortgage it.

The Mobile home must have the wheels, axle and tongue removed.  Then the home must be attached to a solid type of foundation (brick).   The municipality must then "tie" the titles for property and trailer together.

Then it can be classified as real estate and carry a normal mortgage.

...........................

in yavapai co. az
a mobile or manufactured home title needs to be  surrendered to the MVD &  needs to be affixed to the property/land/lot by recording an 'affidavit of affixture'. It is then taxed as real property. Yes the wheels & tongue must be removed but it can be on piers... a stem wall is not needed to affix to property or to get a mortgage. I know this because we have gotten 4 loans on mfg homes on piers with M & I bank.  as I understand a stem wall is not always needed for FHA loans either. There is also a new process where piers are covered with cement which then equates a stem wall in FHA VA eyes... not sure it is any cheaper BUT it can be done on exsisting homes much easier than a stem wall. I have also been told (not sure it is fact) that only about 5% of mfg. home mortages are FHA.

hope this helps 

[JOHNNY Q]

Do you still have the paper?