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Mobile Home relinqushed to the State

Home Forums Home Mortgage Disclosure Act Mobile Home relinqushed to the State

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  • #2447
    dmurray
    Participant

    I understand I just typed “State” in the subject box, but this is really not a State question! 🙂

    We are taking a lien on a mobile home that’s been relinquished to the state. Instead of it being considered personal property, it’s not considered real property.

    How do you report this to HMDA? Mobile Home or 1-4? The tax office doesn’t consider it a mobile home anymore, instead it’s a “residence”. To me, a mobile home is still a mobile home regardless if it’s been relinquished or not. HMDA’s definition refers to HUD and neither of these really address this sort of situation.

    Help???

    #2847
    jholzknecht
    Keymaster

    Regulation C refers to “manufactured home.” As you stated the HMDA definition refers to the HUD regulations, which in turn to not differentiate between situations where the title is surrendered and those where title is not surrounded. Your manufactured home is a manufactured home.

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