Built Home with no Morgage, Loosing property

Submitted by jjeremy12 from - 05/22/2008 - 7:13am

Built the home with no morgage, but I am loosing the property. The home can be moved, it is not on a slab. If i move the home to new property, am I breaking any laws?

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Comments

Submitted by Sean - 05/22/2008 - 10:18am

Wow, that is a fascinating question. Unfortunately that is probably not enough info to provide a response. The key question is what actually secures the loan on the property. If it is only the land that has been pledged as security then I fail to see any problems with moving the home.
In the end it will really come down to the particular language used in your note, mortgage or deed of trust. I'd recommend checking with an attorney - I wouldn't expect a review of this nature by someone competent to be more than a few hundred dollars.

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