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Does anyone know about a new law that prohibits banks to finance mobile homes if the home has been moved more than twice?
I heard Obama signed an executive order recently to that effect. If true, the poorest of people would not be able to sell or buy a mobile home using a bank. What gives?
7 Answers
- Anonymous7 years agoFavorite Answer
No such thing...another "political rumor" like millions of others
A mobile home (also trailer, trailer home, static caravan, caravan) is a prefabricated structure, built in a factory on a permanently attached chassis before being transported to site (either by being towed or on a trailer). Used as permanent homes, for holiday or temporary accommodation, they are left often permanently or semi-permanently in one place, but can be moved, and may be required to move from time to time for legal reasons.
- TortfeasorLv 67 years ago
Banks won't give you a mortgage for a mobile home independent from the land it is sitting on. Why? Because a mobile home without the land is not real estate. Why you would connect that to Obama is beyond me.
- MabeLv 77 years ago
Not a mobile home, but I've heard this about only being able to move a house that sets on a foundation, no more than twice, because of safety factors, and they are not built to move the way a mobile home is. Mobile homes are built to move. They are built like trailors that trucker use to deliver products everyday.
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- 7 years ago
Total nonsense. No such law exists, or has ever even been proposed. Sounds like you've been reading The Onion or something similar.
- corvetteLv 67 years ago
The Obama connection is simply what I was told....take it for what it's worth.