The red leg of the panel in my mobile home reads 240 volt from hot to neutral. What might be the cause of this? It's causing the light bulbs to pop, and I'm afraid to turn on any appliances
In North America, the side of the transformer leading to your house has a coil that steps down from the transmission voltage to 240V. On that leg of the coil, there's a wire that splits off in the middle, so from the the top to the middle is 120V (white-black), and from the middle to the bottom is 120V (red-white). If you want 240V, you simply use the full length of the coil from top to bottom (black-red). Sounds like that's what you've got right now., but perhaps it was miscolored or mislabeled.
Check different combinations and tell us what voltage you get from each, can you get 120V with a combination of wires?