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Posted on December 15, 2021 at 9:17pm 3 Comments 0 Likes
First and foremost, the mobile home collateral is considered personal property when it is located in a park. It has, historically, been a quickly depreciating asset. The costs associated with lending on this type of asset push many banks out of the market altogether. This leaves park-owners and private investors as the driving forces behind the mobile home rental arena as far as mobile home park financing is concerned.
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A conventional financing program will not typically…
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