Chattel Mortgage and Types: A Complete Guide One Should Know

If a borrower is looking to purchase a movable piece of equipment or modular home, then a chattel mortgage could turn out to be a good option.

When a borrower wants to purchase a home that isn’t permanently attached to the land then this type of loan is often used.

A loan process where an object of the movable personal property acts as security for a loan is called a chattel mortgage.

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