Posted by John Merchant on December 20, 2002 at 11:09:58:
Thanks for GA law research. I’ve just been wondereing myself about applicability of Predatory Lending Law & State Stats around the country. Need to do some briefing on the point.
If anybody else has done any State specific briefing on this issue, re MH loans, and have any cogent info, let the rest of us know, puhleeeze.
Predatory Lending Law & Mobile Homes - Posted by Zack
Posted by Zack on December 19, 2002 at 14:27:22:
When lending money on a mobile home without any land included, do the new predatory lending laws apply? I’m in Georgia.
Re: Predatory Lending Law & Mobile Homes - Posted by James Buster
Posted by James Buster on December 21, 2002 at 03:32:59:
Are you actually lending cash money, or owner-financing the mobile home? As I understand it, these are not the same thing and may be treated differently in your state’s laws.
Re: Predatory Lending Law & Mobile Homes - Posted by River City
Posted by River City on December 20, 2002 at 09:40:21:
This is what the law says at Chapter 6A, 7-6A-2(11):
“Manufactured home means …Such term does not include rental property or second homes or manufactured homes when not secured in conjunction with the real property on which the manufactured home is located.”
In the GFLA Q&A, they addressed leasehold properties. Their answer was: “A leasehold interest is an interest in real property, therefore, if that interest is taken as security for the home loan, it will be covered by the Act.”
The bill can be accessed at the following website: