Chattel Mortgage Form With 2 Points In Pennsylvania
Description
Form popularity
FAQ
Recording requirements in Pennsylvania require that all mortgages presented for recording must have the signature of the holder, owner, assignee on any mortgage presented for recording. The document should contain the full name, residence (including street number) and the address of such holder, owner or assignee.
(a) Requirements of licensee.-- Records of first and secondary mortgage loans shall be easily distinguishable and easily separated. All records shall be preserved and kept available for investigation or examination by the department for a period of four years, unless otherwise determined by the department.
Pennsylvania has net worth requirement for the Mortgage Lender and Mortgage Servicer License of $250K, where as the Broker does not require a net worth amount to be met/maintained.
Pre-Registration of Deeds was rescinded as of December 9, 2008; however, some boroughs and townships still require registration of deeds after recording. It is the submitter's responsibility to take the deed to the municipality to be registered after it is returned to them from the Recorder of Deeds Office.
The Bottom Line Chattel mortgages are a little-known but potentially good option if you're looking to finance a manufactured home or heavy equipment. These loans are smaller than conventional loans and tend to have higher rates, but they have shorter terms and quicker payoffs.
Records of first and secondary mortgage loans shall be easily distinguishable and easily separated. All records shall be preserved and kept available for investigation or examination by the department for a period of four years, unless otherwise determined by the department.
Not all states recognize a Trust Deed. Use a Mortgage Deed if you live in: Connecticut, Delaware, Florida, Indiana, Iowa, Kansas, Louisiana, New Jersey, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, Vermont, or Wisconsin.
Recording requirements in Pennsylvania require that all mortgages presented for recording must have the signature of the holder, owner, assignee on any mortgage presented for recording. The document should contain the full name, residence (including street number) and the address of such holder, owner or assignee.