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Can a mobile home be foreclosed? What if its personal property?

April 26, 2017foreclosed Mobile home Property

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Can a mobile home be foreclosed? What if its personal property?

1 Answer

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10 Posted

If the home is a real property and collateral for mortgage loan, it can be foreclosed by the lender/mortgage company. However, if the home is personal property, then the creditor (mobile home dealer) offering the loan will simply repossess the property, depending on your state’s foreclosure and personal property law.