Recission and Manufactured Housing

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This topic has 1 reply, 2 voices, and was last updated 13 years, 2 months ago by JGo9.

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April 23, 2012 at 1:35 pm EDT #2487

chichi63
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We are doing a loan on a parcel of land (not purchase money) where a customer has a mobile home which is his primary residence. The mobile home has not been “converted” to real estate. We are not taking a lien on the mobile home. Does recission apply?
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April 23, 2012 at 4:27 pm EDT #2776

JGo9
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If you are not taking their principal dwelling as collateral then ROR does not apply. It sounds like you are not taking the principal dwelling to me.
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