Donald Salmon of TBI Mortgage says private investors are beginning to buy mortgages written just for self-employed borrowers who put down 30 percent and have good credit scores. Instead of looking at paychecks, they examine a twelve-month bank statement to determine if the borrower can afford the home, nationalmortgagenews.com reports. …
Loans Moving from FHA to Fannie and Freddie; Freddie Inaugurates MHC Loan Read More
The Falkville Town Council in Alabama held a public hearing concerning changing the zoning ordinance for manufactured homes (MH) to allow subdivisions of MH in new areas zoned MH-S, according to hartselleenquirer.com. The ordinance will continue to allow manufactured homes in residential R-1 and R-2 or agricultural zones AG-1 on …
Alabama Town Attracting Manufactured Home Subdivisions Read More
According to Harvard University’s Joint Center on Housing, the nation is poorly prepared to house aging Baby Boomers, especially those disabled. An added problem is one-third of those aged 50 and older spend more than 30 percent of their income on housing; some boomers who still have a mortgage on …
Updating a story MHProNews posted Sept. 3 regarding the increase in production of manufactured homes for July, 2014 over the previous July, the Manufactured Housing Institute (MHI) adds that 8,554 floors were shipped in July, an increase of 14.6 percent over July 2013. The seasonally adjusted annual rate (SAAR) of …
July Floors Rise; Plants and Producers Hold Steady in June Read More
Some of the vacant lots in manufactured housing communities (MHCs) could meet the needs of truck drivers for the Southern Minnesota Sugar Beet Cooperative and its members as the season’s work begins Friday, Sept. 5 in Renville County. Jill Bruns, public health director, told the Renville County Board of Commissioners …
Manufactured Homes could Provide Housing for Seasonal Workers Read More
Following a story MHProNews last published July 2, 2014 regarding a plan by the Affordable Housing Committee of Bluffton, South Carolina to offer assistance to ten qualified residents to purchase modular homes, the town is now considering expanding its Small Home Series program, since eleven people have inquired about the …
Manufactured Homes may be Included in SC Affordable Housing Plan Read More
The north bay area, near Napa, CA was rocked Sunday August 24 by a 6.0 magnitude earth quake, followed by over 50 aftershocks. NBC Bay Area TV’s Vicky Nguyen tells MHProNews that some 33 buildings were red tagged by inspectors in Napa, while newer and more earth quake resistant city …
$1,000,000,000+ Property Damage in North Bay Earthquake, most Manufactured Homes Survive Read More
Mark Brunner at the Manufactured and Modular Housing Association of Minnesota (MMHAMN) tells MHProNews that the All Parks Alliance for Change (APAC) is lobbying Congress to oppose The Preserving Access to Manufactured Housing Act (HR 1779). Brunner says APAC has sent out the following call-to-action statement to their members. “House …
A new manufactured housing community (MHC) is being developed in Courtland Township in western Michigan on the site of a former MHC, and the 55 and older community may eventually include up to 700 two and three-bedroom homes. The Oaks of Rockford will begin with 150 homesites at $375 a …
Following a story MHProNews posted July 29, 2014 regarding the opening of Southern Energy Homes’ (SEHomes) new 176,000 square foot facility in Russellville, Alabama, the new plant was dedicated Aug. 8 and attended by AL Gov. Robert Bentley, along with Rep. Johnny Mack Morrow, Sen. Roger Bedford and U. S. …
Southern Energy Homes Dedicates New Plant in Alabama Read More
The Village of Shiloh (southwestern Illinois) Board of Trustees has approved an agreement to authorize Village Administrator John Marquart to carry out the statutory requirements of the Abandoned Mobile Home Act, and assist the Valley View Estates manufactured home community in disposing of abandoned pre HUD Code homes, according to …
Statute Eases Removal of Abandoned Manufactured Homes Read More
Halifax, Nova Scotia, Canada-based Killam Properties, Inc. (TSX:KMP) reports for the second quarter, ending June 30, 2014 its funds from operations (FFO) per diluted share increased 5.9 percent from $0.18 to $0.19 over the same period 2013. Same store net operating income (NOI) grew by 1.3 percent, and same store …
MHProNews has learned from the Manufactured Housing Association for Regulatory Affairs (MHARR), statistics released by the Department of Housing and Urban Development reveal production of HUD Code homes grew 5.3 percent in June 2014 over last June, 5,624 homes over 5,338. Industry production for the year now totals 30,675 homes, …
A proposal to allow recreational vehicles to occupy manufactured home sites in land lease communities until a manufactured home is delivered passed the Coaldale, Alberta, Canada Town Council, according to sunnysouthnews.com. Town officials will include in the ordinance that only the owner of the home site can place an RV …
Southern Energy Homes (Sehomes), a subsidiary of Clayton Homes, reports it has moved from its facility in Double Springs, Alabama and hired 270 people at its new 176,000 facility in Russellville, Ala. where it will average 1,500 manufactured homes per year. With plans to hire an additional 50-75 workers, the …
Southern Energy Homes opens New Manufacturing Facility Read More
Cavco Industries, Inc. (Nasdaq:CVCO) will release its financial results for Q1 2015 on Thurs., July 31 after the close of the market, as MHProNews has learned from money.cnn.com, followed by a webcast the next day at 12:00 PM eastern time with discussion of the results led by senior management. Headquartered …
Margeurite Nader, CEO and President of Equity LifeStyle Properties (NYSE:ELS), in discussing second quarter 2014 results, reports the company experienced its 19th consecutive quarter of occupancy growth, with homeowner occupied sites increasing by 113, and home renter sites rose by only two. Last year, by comparison, ELS had lost 189 …
Following a story MHProNews last posted June 16, 2014, the Pennsylvania attorney-general’s office is suing David Valenti, president of Wyoming Homes for alleged violations of the consumer protection laws and is seeking to permanently close the business. Twenty complaints were lodged against the business from Aug. 2011 to Dec. 2013 …
In a letter to “Anne” of the democratandchronicle.com of Rochester, New York, the questioner describes a seasonal community on the water in New York state, which sites single-section manufactured homes (MH)and travel trailers that requires a fee of $1,000 payable to the community owner if a home is sold to …
Rules Regarding Seasonal Manufactured Housing Communities may be Unexpected Read More
In an attempt to improve the control of manufactured homes (MH) in West Frankfort, Illinois, city commissioners are proposing an ordinance to define space requirements for new MH within the city limits, but extending to 1 ½ miles out. Total area for the home must be 6,000 square feet, and …
W. Frankfort, Illinois Restricting New Manufactured Homes Read More
