Posts Tagged ‘holes’

Community Closed for Waterfront Development

May 20th, 2013 Comments off

The tri-cityherald informs MHProNews the Clover Leaf land lease community in Kennewick, Wash. was sold in February, 2013 to BW Land which is developing the 22 acres into a waterfront of shops, condos, and hotels. BW sent out eviction notices to residents, giving them 30 days to move, but retracted when they realized the order would not stand up in court. The majority of the 36 residents moved after the first notice, but the remaining ones have now been given one year from April to find new living quarters. BW had begun using heavy equipment in the community but stopped after residents complained of the large holes left by tree removal and unsafe conditions. Tempers have flared to the point of police being called, but now BW is considering offering financial assistance to help residents move because they do not want to wait until April 2014 to begin development work.

(Photo credit: Christopher Weddle/centredailytimes)

Manufactured Housing in Florida is Losing Insurance Coverage

April 26th, 2013 Comments off

As it looks for ways to drop its risk, marconews reports Citizens Property Insurance Co., the state-run insurer that covers 130,000 factory-built homes in Florida, most of which are over 20 years old, is depreciating older homes, offering cash value in case of a loss instead of replacement cost. In one instance, a couple did have coverage of $64,000 on their 1988 manufactured home purchased for $67,500 in 1998. That coverage, which cost $1,362 a year in 2012, has been reduced to $18,000, now costing $1,129 per year. If they did suffer a loss they could not buy much for $18k. Likewise, if they tried to sell their home, no one would likely buy it because it could not be fully covered. The change in coverage applies to manufactured homes built before 1994, which accounts for roughly 75 percent of all MH statewide. Jim Ayotte, executive director of the Florida Manufactured Housing Association (FMHA) says if the situation does not change, retirees may go elsewhere. As MHProNews has learned, he added if homes are destroyed, it will leave holes in communities. Legislation to counter Citizens’ cash-value policy has not made it through the legislative process. ##

(Photo credit: MHVillage–Lake Village MHC, Nokomis, Fla.)

State: MHC Sold Unlivable Home

January 24th, 2013 Comments off

DesertDispatch reports from Barstow, Calif. in San Bernardino County a factory-built home sold to a family at the Hacienda Mobile Home Park was alleged to have black mold, running sewage, an open electrical panel and a leaking water heater. Deemed uninhabitable by the Dept. of Housing and Community Development, Hacienda was cited for selling a substandard housing unit and has 30 days to repair the damaged home before trying to sell it again. MHProNews has been informed the Dept. of Housing noted 16 violations, including holes in the floor in two bathrooms, two bedrooms, a hallway and water heater compartment. The community manager claims the family inflicted the damage to get out of the contract.

(Photo credit: Brooke Self/desertdispatch–family with uninhabitable home)

Congressional Report Punches Holes in Dodd-Frank

October 18th, 2012 Comments off

House Financial Services Chairman Spencer Bachus (R-Ala.) released a report in rebuttal to Dodd-Frank supporters who claim the new law ends bailouts. Entitled, “The Dodd-Frank Act, the Persistence of ‘Too Big to Fail,’ and the Institutionalization of Government Bailouts,” the analysis asserts Section 204 of Dodd-Frank allows the FDIC to provide funding to, and pay obligations of, a company that is failing. MHProNews has learned Section 210 authorizes the FDIC to borrow up to 90 percent of a failed firm’s assets in certain cases. For the full report, please click here.

(Image credit: CNNMoney)