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Mobile homes are included under the category of real estate. Mobile homes built on fixed foundations are appreciating properties their values appreciate with the passage of time. Hence, after a few years the value of the mobile home will be much higher than what it was bought for. This difference is called mobile home equity. Equity on a mobile home is equal to the numerical difference between the appraisal value of the home and the value of the mortgage.
Although the majority of Americans live in traditional houses and neighborhoods, some people have found that living in a mobile home suits their family better. Many mobile home owners, especially in the northeastern United States, heat their homes with oil mobile home furnaces. You could often see mobile homes in campsites or in mobile home parks. Every main city and rural town across the United States has mobile homes. They are low cost and can be easily repositioned from one location to another. People with poor financial status have the opportunity to buy these houses because it is affordable.