According to HousingWire.com, the Detroit Office of Foreclosure Prevention and Response (DOFPR), in conjunction with law firm Potestivo & Associates, initiated a program last November allowing homeowners who have lost their homes in foreclosure to remain in their homes. The initial outreach was too late in the foreclosure process to be effective, …
Program Allows Foreclosed Michigan Occupants to Remain Read More
As reported on CapitolWire.com, the Pennsylvania House of Representatives is on the verge of passing a bill rescinding the sprinkler mandate that came into effect January 1, 2011 for all new homes constructed under the 2009 International Residential Code. Mary Gaiski, Executive Vice-President of the Pennsylvania Manufactured Housing Association (PMHA), …
Over the past twelve years, the manufactured housing industry has been decimated. Every segment of the industry has felt the pain as production has tanked, plants have closed and jobs have disappeared. The impact has been no less harsh for consumers — particularly lower and moderate-income families — many of whom have seen their dreams of home-ownership erased by the same factors propelling the industry’s decline. Through good economic times and bad, while the market for other types of housing has been up and down, the trajectory of the HUD Code industry for over a decade has gone in one direction — downward.
According to YAHOO! Finance, Warren Buffett had this to say in his annual letter to Berkshire shareholders, on the heels of acquiring railroad Burlington Northern Santa Fe: “Our elephant gun has been reloaded, and my trigger finger is itchy.” He acquired Burlington for $44 billion just over a year ago, …
According to CNN Money, the tab to bail out Fannie and Freddie will continue to grow, says the Federal Housing Finance Agency (FHFA), which oversees the duo. It says the estimated costs through 2013 could increase by as much as $210 billion, that on top of the blank check that …
Riverine Development, Inc. first proposed this manufactured homes project near Ann Arbor, Michigan in 2004, according to AnnArbor.com. After numerous battles involving Superior Township officials and residents, judges, the developer, state environmental quality control and the state attorney general, the outcome is still in doubt. The focus has been on …
Strong Opposition to Build 1,950-Unit Community in Michigan Read More
In a discussion at the school’s College of Design, a reporter for the Des Moines Register brought up the dilemma of some low income families buying sub-standard, older homes because they cannot afford to live elsewhere, having no recourse if the community owner does not respond to problems, and being …
Manufactured Housing Debated at Iowa State University Read More
Berkshire Hathaway and Wesco Financial Corporation announced Monday that they entered into a definitive merger agreement, whereby Berkshire Hathaway will acquire the remaining 19.9 percent of the shares of Wesco’s common stock that it does not presently own in exchange for cash or shares of Berkshire Hathaway Class B common stock, …
Berkshire Hathaway Inc. to Acquire Outstanding Wesco Stock Read More
Drew Industries Incorporated, a leading supplier of components for recreational vehicles and manufactured homes, reported this week that its wholly-owned subsidiary Lippert Components, Inc., acquired the assets and business of Nampa, Idaho-based Home-Style Industries, and its affiliated companies. The purchase price of $7.25 million was paid from available cash, and …
Housingwire reports that while Federal Reserve Bank of Boston President Eric Rosengren believes recent data show a recovery is finally taking root, he doesn’t expect the housing market to spur economic growth. “In many areas of the country, the impaired balance sheets of borrowers, high foreclosures and high vacancy rates …
The website EcoHome ran an article this week outlining six trends for green homes. They include the obvious: energy efficiency, density and location (high gas prices and long commutes are driving this trend), health, performance monitoring, water conservation and getting more for the money. Highlighted in the article is Rheem’s …
Savannah Now reports that a flawed zoning map could tie the city of Tybee up in litigation. Since the issue came to light, many residents have found their properties are shown as being in a commercial zoning district that does not list single-family homes as an allowable use. According to …
The Manufactured Housing Institute (MHI) submitted comments in December to the Department of Housing Urban Development (HUD) on its October 29, 2010 proposed rule establishing the regulations that govern the Housing Trust Fund (HTF). The HTF, authorized by Congress under the Housing and Economic Recovery Act (HERA) of 2008, was …
Rep. Michele Bachmann (R-Minn.) introduced legislation Wednesday that would repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, which President Obama signed into law in July, represents the most extensive overhaul of financial regulations since the Great Depression. Bachmann says the law grossly expanded the federal government …
Iowa Manufactured Housing Association Executive Vice President Joe Kelly says the city of Des Moines is concerned about how older factory-built homes are sold on contract. The City Attorney, Bruce Bergman, expressed to Kelly that Des Moines is considering requiring all community owners, if they are selling a home in …
Des Moines Considering Regulatory Changes in MH Titling and Inspection Read More
MHMSM.com recently sent a letter to Des Moines Register Managing Editor Randy Brubaker regarding a December 26th article titled “The most dangerous housing in America.” The letter pointed out the article failed to correctly distinguish between “mobile” homes built before the implementation of the HUD Code in 1976, and modern, …
MHMSM.com Responds to MH Article in the DesMoines Register Read More
It is NOT manufactured housing, but you may come away with that impression after reading a recent item in the DesMoines Register. The article recalled the first death of 2010, a man named William McCune who reportedly died during a fire in an old, pre-HUD code mobile home. The article goes …
Iowa Manufactured Housing Association Exec Joe Kelly sent out a notice this week that those who sell homes for under $25,000 in that state are required to register with the Attorney General of Iowa. Kelly says the second factor determining a registration requirement is that the home must be sold …
From Washington State, the HeraldNet reports that residents of manufactured home communities in the city of Lynnwood are being reassured by a new law that requires community owners in the city to go through a rezone process before selling the land to be used for other purposes. The report indicates …
New Law Helps Prevent Community Closures in Washington Read More
After several delays, the Federal Trade Commission (FTC) will begin enforcement of the Red Flags Rule on December 31, 2010. The FTC issued regulations (the Red Flags Rule) on November 9, 2007 requiring financial institutions and creditors to develop and implement written identity theft prevention programs as part of the Fair and Accurate Credit Transactions (FACT) Act of 2003.
