Second Mortgage

Mobile homes provide an affordable alternative in today’s crowded and sometimes inflated real-estate market in Ohio.

Mobile home in Ohio has become very popular, especially in today’s competitive and active real-estate and mortgage market. The state of Ohio has promulgated laws for tenants living in mobile homes and this legislation is similar to the existing landlord-tenant legislation in Ohio.

The tenant in an Ohio mobile home should :
• Obey local housing, safety and health rules
• Maintain cleanliness
• Ensure proper usage of electrical and plumbing fixtures
• Safeguard the landlord’s property from damage
• Handle appliances with care
• Inform the landlord in case of repairs

The responsibility of the landlord is to obey the safety and health rules. The landlord should maintain the property and ensure the area is safe and clean. If you are a tenant of mobile home in Ohio, you have the right to :
• Join a tenant union.
• Make a complaint to a government agency if your landlord is violating housing laws.
• Receive sufficient notice from the landlords if the landlords wish to end the rental agreement.

Laws Favor Ohio’s Mobile Home Loan Tenants

Mobile home park operators in Ohio do not have the right to evict a resident without a court order. If the operator undertakes such actions, the resident has a right to sue them and there are several other means to prevent landlords from taking advantage of their tenants. The resident may also claim the attorney’s fees if the operator pursues eviction. Mobile home mortgage in Ohio operators do not have a right to retain the possessions of a residence without a court order.

Ohio state law prohibits discrimination, and as such, lenders should provide mobile home loans in Ohio to all the creditworthy customers. Credit reporting agencies will maintain separate credit histories on each individual.

You should ensure that your Ohio mobile home loan meets your needs by checking out the various banks and credit unions before deciding to purchase a mobile home. Because brokers earn commissions, it is often a better idea to negotiate directly with the many lenders who are offering mobile home mortgages in Ohio. Prior to buying an Ohio mobile home mortgage, it is important to know the physical condition of the mobile home you have your eye on :
• The site should be level
• The area of the mobile home should be free of rocks, trees and debris

Ensure you consult a credit counselor if your credit score is low but do not let multiple brokers check your credit. Because every credit inquiry is monitored by reporting agencies, multiple inquiries might reduce your score. Ask your brokers to give you an estimate of the home price and ensure that the term of your loan is short and based on the specifics of your home. A long-term and a low down payment make it difficult for you to sell your home in the future.