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A chattel loan is secured with the movable item, or chattel, that is used to purchase the loan. The lender holds an ownership interest on the chattel. Mobile or manufactured homes, where the homeowner buys the residential unit but not the land that it occupies, are often financed with chattel mortgages. Chattel Mortgage: Definition, How They Work, Examples, and Types investopedia.com https://.investopedia.com › terms › chattelmortgage investopedia.com https://.investopedia.com › terms › chattelmortgage
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