I used my land for collateral for my doublewide can i move the double wide off and sell my land?

Question

my land was paid off but when i bought my doublewide i used it as collateral i still owe on my doublewide but need to know if i could move it off and sell my land

Answer 1

yes u can if the land is worth more then the loan on the double wide trailer

Answer 2

You have a lien on your property so really the bank owns it again. You can sell it only if you make enough to pay off the lien.

Answer 3

Actually no, you can't sell the land because basically the bank "owns" it so to speak.  Banks ask for  collateral, so if you default on your loan, they can sell your land to re-coup the money.  If you do sell your land and the bank finds out, you are in trouble.  They may "call" the loan and you would have to pay the whole thing at once instead of monthly payments like you are probably making now.  If you sold the land and paid off your doublewide loan (collateral), and you have no ties with the bank, that is fine too.

Answer 4

There is a lien on the property, it will have to be paid either in advance or through the proceeds of the sale.

But yes you can sell it as long as you can pay off the loan.

Answer 5

Well, Depends. Have you done a Affidavit of Affixture ? If so then No you cant move it.