Chattel Mortgage Form For Mobile Home In Suffolk
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Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
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.
A form of security interest, typically a legal mortgage, taken over tangible movable property (known as chattels).
In comparison to regular mortgages, chattel mortgages come with shorter terms which means they're repaid within 10-15 years in most cases. With a residential mortgage, the lender can retain a lien on the property which may or may not be the case with a chattel property mortgage.
A form of security interest, typically a legal mortgage, taken over tangible movable property (known as chattels).
How do I obtain a copy of my property deed? Property deeds are recorded in the Suffolk County Clerk's Office in Riverhead, NY. The direct phone number is (631) 852-2000.
