Wyoming, a state with one of the highest populations of people residing in manufactured homes, is working on leveling the playing field for owners.

According to Wyoming Public Media, the state does not currently extend the same rights to manufactured home owners as it does for site built homeowners, but House Bill 56, which is now before the Senate, would fix an oversight in how manufactured homes are titled.

Representative Tyler Lindholm (R-Sundance) sponsored the bill, after hearing from a constituent who was struggling to get a title because he needed one that assessed his manufactured home and his land as one piece of property.

Without an accurate title, the constituent could not get a loan or mortgage on his property.

“This causes a headache for financial institutions, and ultimately limits the economic mobility of mobile [sic] homeowners,” said Lindholm.

“It affects a huge amount of people who have gone through this problem over the years, and it closes this loop hole in our law where people will actually be able to get loans on their property if they so choose.”

The bill clarifies the transfer of titles for manufactured homes from one owner to another, and takes into account that the home might also be moving from one piece of land to another.

With the high number of state residents who live in manufactured homes, Lindholm believes this can help many residents who are currently stuck in limbo.

“Banks won’t deal with them, and title companies are scrambling to get them a title but they can’t because of this little tiny hole in Wyoming law,” said Lindholm.

As Daily Business News readers are aware, the state of Wyoming has been working on various ordinances for manufactured housing and RV’s over the last year, in addition to House Bill 56. For more on the MH and RV ordinances, click here. ##

 

(Image credits are as shown above.)

 

Submitted by RC Williams to the Daily Business News for MHProNews.