- Articles 68
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A person came in my experience recently trying to borrow $500 in which he has a totally free and clear mobile house. We told him We would allow him borrow the amount of money if i really could place a lien on their mobile house.
Anybody understand precisely just how to do that. In addition, this provided me with a business idea that is good.
Title loans on mobile domiciles (you see all of them the time for automobiles you will want to mobile houses).
- Posts 257
- Votes 58
Yes, Dustin could it be a good clear idea, i actually do it myself very often. Each and every time a property is compensated off we make certain the brand new owners understand I am able to let them have that loan if they want in the mobile house. In this manner I suck them back in.
In Texas whenever you file the Title or S.O.L Statement of ownership and location, there clearly was an accepted destination to put your self since the lien holder. therefore always check you states that are local Residence Title kinds.
You can see where you files for the lien if you look at section 8 on this form.
Good work you may be thinking like an expert.
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- Votes 46
Dustin, i recommend talking to legal counsel to ascertain if this can be appropriate in a state. I experienced a comparable concept final 12 months and talked about it with a RE lawyer in Texas. That it would be expressly forbidden, he did have concerns about its legality in Texas while he didn’t say. I finished up planning a various way and would not pursue the problem.
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