99-346 C.M.R. ch. 1, § 13 - Mobile Homes
Mortgage Loans for Mobile Homes must be secured by a perfected lien on real property consisting of the Mobile Home and the land and meet the following requirements:
A.
Permanent Attachment. The Mobile Home must have its wheels, axles
and hitch removed; be anchored to land according to the manufacturer's
specifications; and be permanently connected to utilities.
B.
Permanent Skirt. The Mobile
Home must have a compatible permanent exterior cover from the bottom of the
unit to the ground.
C.
Compliance of Mobile Home Park. If the Mobile Home is located in a
mobile home park, the mobile home park must be in compliance with applicable
laws; and an Eligible Borrower shall provide the mobile home park manager with
a notice of lien, in form acceptable to MaineHousing, informing the mobile home
park of MaineHousing's lien interest in the Eligible Residence.
D.
Leased Land. If the Mobile
Home is located on leased land, the lease must meet requirements established by
MaineHousing such as a minimum term, termination for cause, and
assignability.
E.
Additional
Documents. A loan for a Mobile Home requires a mortgage, a security
agreement, and a supplemental appraisal. If the Mobile Home is single wide with
a manufacturing date prior to September 30, 2007 or double wide, a UCC-1
financing Statement is required. If the Mobile Home is single wide with a
manufacturing date on or after October 1, 2007, a Certificate of Title from the
Bureau of Motor Vehicles is required.
Notes
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