FHA loan cont.- (by Pat [VA]) Apr 2, 2021 5:53 PM|
FHA loan cont.- (by NE [PA]) Apr 2, 2021 6:29 PM
FHA loan cont.- (by Pat [VA]) Apr 2, 2021 7:37 PM
FHA loan cont.- (by Ray-N-Pa [PA]) Apr 2, 2021 7:53 PM
FHA loan cont.- (by Richrd [MI]) Apr 2, 2021 8:08 PM
FHA loan cont.- (by NE [PA]) Apr 2, 2021 8:16 PM
FHA loan cont.- (by DJ [VA]) Apr 2, 2021 10:23 PM
FHA loan cont.- (by Nicole [PA]) Apr 2, 2021 10:36 PM
FHA loan cont.- (by 6x6 [TN]) Apr 3, 2021 9:56 AM
FHA loan cont.- (by Pat [VA]) Apr 4, 2021 7:15 PM
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FHA loan cont.- (by Pat [VA]) Posted on: Apr 2, 2021 5:53 PM
Received e-mail from our realtor today asking for proof of title surrender for our 97 doublewide that we bought as a bank repo., & rented it out for 3 years. Required for FHA loan, so I'm just advising any of you landlords that are thinking of selling, this is something that you will need to be able to address.
Of course we don't have it, and have no idea what make, model, serial #, etc., it is. We have looked in the master bedroom closet, under kitchen sink, near electric panel, etc. None of those spaces have any info. One of you mentioned to me a location UNDER the unit to check, could someone advise as to where that may be found?
I will check at the Commissioner of Revenue office Monday & see if they have any proof on record of a title surrender, but I'm not holding my breath. It is called an Affidavit of Affixture. We weren't the original owner so I am pretty sure the DMV wouldn't give me any info, even if they could. --47.133.xxx.xxx
FHA loan cont.- (by NE [PA]) Posted on: Apr 2, 2021 6:29 PM
Interesting. About eight or nine years ago I was looking at a foreclosure property. It was a gorgeous Doublewide on 2 acres. Beautiful setting, mature trees stonewalls, etc. It was listed as a steal of a price. I could not get them to prove to me that I would get the title of the trailer as a part of the sale because it was a foreclosure. Let me know how you make out with this with an additional post if you would and if you were able to get a new title created. I didn't know what to do with the time so I passed on the deal. If it came now, I might just buy it. What my concern was then, was if the old owner of the property could come and pull the trailer off the land because they still had the title to the trailer and just lost the land at foreclosure without the improvements.
You can check for make and model number on the frame, in the backs of cabinets and inside the electrical panel. The one Doublewide that I have, it was inside the electrical panel. --70.44.xxx.xx
FHA loan cont.- (by Pat [VA]) Posted on: Apr 2, 2021 7:37 PM
It is a 27' x 60', so a lot of frame to look at, LOL! We have bought a few more mobiles, one in particular I remember thru HUD, the closing attorney recommended passing on it because of this reason. We went ahead with it in 2004 and it hasn't been an issue yet. I suppose there is that danger of it being out there somewhere. When we paid off the cloud on the title with some negotiations, on the above mentioned doublewide, if a finance company mailed out the title to previous owner, the post office doesn't forward mail but a year (?). That would be a saving grace as the former owner had moved on who knows where.
In our deal with HUD, we paid cash. This FHA loan requires the Affidavit of Affixture attached at the courthouse (deed). --47.133.xxx.xxx
FHA loan cont.- (by Ray-N-Pa [PA]) Posted on: Apr 2, 2021 7:53 PM
If you are on the flip side of this issue and are buying from FHA/HUD a doublewide, it is standard practice for them to get the court to order retirement before selling it.
If you want Pat, I can send you out what this paperwork looks like.
I sold one a few years back and the appraiser needed to verify the metal tags were removed on it which prevents it from being moved with PA DMV. --24.154.xx.x
FHA loan cont.- (by Richrd [MI]) Posted on: Apr 2, 2021 8:08 PM
Look on the frame in the front, near the hitch area.
If the title was retired, the assessor might have a copy. On the ones I buy, if the title has been retired, there is some note in the assessors records. If not, it should show that also and might have the numbers.
Also, in some areas, they tax only the land if the title is not retired, and in other areas they tax both the land and the trailer even if the title is not retired.
This is often done on a county by county basis, so you'll need to do some asking and research to find out how it is done in your area. --24.180.xx.xx
FHA loan cont.- (by NE [PA]) Posted on: Apr 2, 2021 8:16 PM
We bought a sheriff sale about 2 years ago that came with a car. I petitioned the court to get the title to the vehicle. I ended up getting a new title and still have the car. That might be a way to get a title. It cost me about $400. --70.44.xxx.xx
FHA loan cont.- (by DJ [VA]) Posted on: Apr 2, 2021 10:23 PM
As Richard said, try looking on the frame in the front - one of the two pieces that form the "V"
Good luck! --68.229.xxx.xxx
FHA loan cont.- (by Nicole [PA]) Posted on: Apr 2, 2021 10:36 PM
Contact the attorney that represented you when you purchased. They should have that packet of paperwork in their file. --72.70.xxx.xx
FHA loan cont.- (by 6x6 [TN]) Posted on: Apr 3, 2021 9:56 AM
FHA loan cont.- (by Pat [VA]) Posted on: Apr 4, 2021 7:15 PM
This is an ongoing drama which will play out either way. I regret the 2,800. we've lost in rent so far, but I'm not 100% sure we're doing the right thing by selling so maybe it is a mixed blessing.
Agent is going to take a photo of HUD plate & her broker seems to think they can make it work with that info. I'm not so sure. --71.219.x.xx
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