Title loans on mobile domiciles. Any see any potential issues with beginning a mobile house name financial institution?

Title loans on mobile domiciles. Any see any potential issues with beginning a mobile house name financial institution?

  • Articles 68
  • Votes 10

Dustin M.

A person came for me recently trying to borrow $500 and then he has a free of charge and clear home that is mobile. We told him We would allow him borrow the cash if i really could place a lien on their mobile house.

Anybody understand precisely simple tips to try this. In addition, this provided me with a business idea that is good.

Title loans on mobile domiciles (you see all of them the time for automobiles why don’t you mobile domiciles).

  • Articles 257
  • Votes 58

Mike Matthews

Yes, Dustin could it be an idea that is good i really do it myself very often. Each and every time a house is compensated off we make certain the brand new owners understand i could provide them with a loan when they want from the mobile house. Because of this I suck them back.

In Texas once you file the Title or S.O.L Statement of ownership and location, there clearly was an accepted spot to put your self since the lien holder. Therefore always check you states that are local Residence Title types.

You can see where you files for the lien if you look at section 8 on this form.

Good work you might be thinking like an expert.

  • Articles 171
  • Votes 46

Bill W.

Dustin, i recommend talking to legal counsel to find out if this can be appropriate in your state.

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