Chattel Mortgage Form With Affidavit Of Good Faith In Broward
Category:
State:
Multi-State
County:
Broward
Control #:
US-0007BG
Format:
Word;
Rich Text
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Description
A chattel mortgage is a term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan.
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FAQ
The Bottom Line. If you're looking to buy a modular home or movable piece of equipment, taking out a chattel mortgage could be right for you. These loans come with shorter terms and much lower processing fees. However, the interest rate will be higher than what you'd receive on a conventional mortgage.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.