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Chattel Mortgage on Mobile Home

Chattel Mortgage Form With Balloon In Broward

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

County:

Broward

Control #:

US-0007BG

Format:

Instant download

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.

The purpose of a chattel mortgage is to secure financing for moveable property or chattel. Chattel mortgages can be used to finance vehicles, mobile homes, and even heavy equipment like tractors.

Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.

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Can be used for traditional installments or balloon payment. Fully Amortized loans.A balloon mortgage is a popular financing solution where individual payments are not amortized throughout the duration of the loan. If you had a mortgage about to balloon, you may never get to sell your house. The broker's Lis Pendens will not stop a foreclosure. The law firm's lawyers have handled consumer protection, real estate and business law matters in South Florida for the last decade. A balloon note is a type of loan where the borrower is required to make regular payments, called interestonly payments, for a specified period. Breach A violation of any legal obligation. Intragastric balloon placement is a weight-loss procedure that involves placing a saline-filled silicone balloon in your stomach. Title today and obtain a personalized evaluation from a real estate attorney knowledgeable in mortgage and foreclosure law.

Chattel Mortgage Form With Balloon In Broward

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Are chattel mortgages good?

What is the purpose of chattel?

What is an example of a chattel?

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