Manufactured housing:

A home that the law still treats like a car

Febrary 2005
PDF Format

Executive Summary
We recommend

Report:
Repossession: Hauling off entire households
Foreclosure laws
Power of sale clauses reduce foreclosure protections
Repossession
Limits on self-help repossession
Right to cure and right to reinstate
Anti-deficiency laws
That is not the home I ordered
Recommendations

Sidebars:
Definitions
Key protections in foreclosure and key weaknesses of repossession
Deed of trust
Park tenancy
Drew Industries
Homestead Exemptions

Charts:
Foreclosure laws in six souhwestern states
Southwest states repossession laws
Right to cure default before repossession/Right to reinstate after repossession

Director
Reggie James

Author
Suzanne Henry

Editor
Kathy Mitchell

Design
Amanda Frayer

For more information, contact:
Suzanne Henry,
Policy Associate
512-477-4431 x121
shenry@consumer.org

Kathy Mitchell,
Research Coordinator
512-477-4431 x125
mitcka@consumer.org

Rafael Ayuso,
Media Director
512-477-4431 x114
ayusra@consumer.org

This report was funded in part by a grant from the Ford Foundation.

Click here to find out more about manufactured housing.

Deed of trust

This document is used instead of a mortgage in 13 states: Alaska, Arizona, California, Georgia, Idaho, Illinois, Mississippi, Missouri, Montana, North Carolina, Texas, Virginia and West Virginia.¹ A third party trustee, rather than a court, monitors the proceedings. The trustee, usually a title or escrow company, holds the title for the lender. When the loan is paid, the trustee transfers the title to the borrower. If the loan goes into default the lender can demand that the trustee begin foreclosure on the property to regain the title or the defaulted amount.

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Footnote:

¹ Law.com, 11/16/04