Still owe money on your mobile home, or is there a lien on the title? You can usually still sell. We buy mobile homes with loans and liens for cash. The lender gets paid at closing, and you get what’s left.
Many mobile homes are financed with a chattel loan, a personal property loan secured by the home rather than a mortgage on land. Homes on land may have a regular mortgage instead. Either way, you can usually sell. The lender gets paid first, and you receive the rest.
How payoffs work
- You give us permission to request a payoff statement from the lender.
- We make an offer that accounts for the payoff.
- At closing, the lender is paid directly. For park homes, the lender then releases its lien so a clean title can issue. For land, the closing attorney records releases.
Old liens that were never released
It’s common to find a lien still on a title years after the loan was paid off, especially if the lender merged or went out of business. A lien release letter or lien holder signature may be needed. We help track it down.
If you owe more than it’s worth
Being “upside down” is common with newer financed homes. Options can include bringing money to closing, negotiating with the lender, or exploring other paths. We’ll lay out the numbers honestly. If a sale to us doesn’t make sense, we’ll say so.
Other debts
- Back lot rent: often settled at closing. See behind on lot rent.
- Property taxes: see back property taxes.
- Judgments: for land, the attorney’s title search will show them.