Titling of Manufactured Homes as Real Property

A major hurdle that prevents many owners of manufactured homes from enjoying the same benefits as owners of site-built homes is classification of the home as “chattel,” the legal term for personal property, as opposed to real property.

Modern manufactured homes are a high-quality and affordable option, particularly for low- and moderate-income families, and can provide an entryway into asset and wealth building that promotes long term economic opportunity and financial security. 

States can clear the way for manufactured home owners to access mainstream mortgage financing and the other benefits of real property titling by allowing manufactured homes to be titled as real property whether the home is located on a lot the homeowner owns or in a manufactured home community.

Titling Reform: How States Can Encourage GSE Investment in Manufactured Homes

February 1, 2016

A new rule proposed by the Federal Housing Finance Agency (FHFA) will give Fannie Mae and Freddie Mac the incentive to invest in manufactured home financing—but only if the homes are classified as real property. Most states have significant policy barriers to classifying manufactured homes as real property. Failure to reform the existing inadequate laws…

Read More about: Titling Reform: How States Can Encourage GSE Investment in Manufactured Homes
October 1, 2014
October 14, 2015

From the NCLC Digital Library

Reposessions

Covering every aspect of motor vehicle, manufactured home, and household goods repossessions and deficiency claims.

Read Chapter One

Support NCLC

Please support NCLC's work to advance consumer rights and economic justice with a tax-deductible contribution today!

Donate