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Chattel Mortgage on Mobile Home

Chattel Mortgage Form Ford In Collin

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

County:

Collin

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 traditional mortgage is only for stationary property. It's suited for long-term real estate investments. Chattel loans are for property that can be easily moved. They're also an option for borrowers who want their loans approved faster and with shorter repayment times.

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

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.

More info

FORD Field Office Director, (215) 656-0500. Email Fax (215) 656-3445.Welcome to the Official Site of Ford Credit. Office of Security (SY).

Chattel Mortgage Form Ford In Collin

Description

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What is an example of a chattel?

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