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Military and Veterans Code § 987.655

‹ § 987.65§ 987.656Open in browserleginfo ↗

987.655.

For a mobilehome which is to be sited in a mobilehome park as defined in Section 18214 of the Health and Safety Code, the department shall charge a rate of interest higher than that which is charged to purchasers of conventional housing or of a mobilehome sited on a lot owned by the purchaser. The interest rate shall be set by the department to balance lending risk while maintaining a rate at or below the market rate for a mobilehome in a park.

(Amended by Stats. 2021, Ch. 549, Sec. 13. (SB 661) Effective January 1, 2022.)