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Posts Tagged ‘initiative’

Seniors Served by Modular Units Adjacent to Adult Child’s Home

July 24th, 2013 Comments off

In addition to 55 plus housing for seniors and continuing-care communities, another option that offers financial and supportive care benefits is a modular unit that can be placed adjacent to an adult child’s home. These temporary Accessory Dwelling Units (ADUs) allow seniors to be independent yet safe and close to family members, and can be outfitted with medical technology that monitors resident behavior and health. From ldnews in Lebanon, Penn., MHProNews has learned the Age Wave Initiative of Lebanon County is a consortium of professionals from business, health care, government and aging services who are attempting to address the needs of the Baby Boomer generation.

(Photo credit: n2care–Med Cottage)

Manufactured Housing Finance Needs to be in Reform Bill

July 23rd, 2013 Comments off

While the Manufactured Housing Association for Regulatory Reform (MHARR) reports the government-sponsored enterprise (GSE) finance reform bill in the House, called the Protecting American Taxpayers and Homeowners Act (PATH), is being prepared to move forward, there is no indication manufactured housing consumer financing is included. Although some industry reports say PATH “should” include manufactured home loans within the new privately-based securitization structure, it is too risky to leave it to chance. Given that it is not known when the the measure may come to the House floor, MHARR strongly recommends that mandatory manufactured housing consumer finance language is included in the bill, and that an amendment to that effect be drawn and readied for inclusion. MHARR and the Manufactured Housing Institute (MHI) are working together on this initiative, as MHProNews has learned.

(Photo credit: Liberty Homes)

 

Seriously Delinquent Mortgage Borrowers may Reduce Payments

July 2nd, 2013 Comments off

Borrowers with mortgages backed by Fannie Mae and Freddie Mac that are at least 90 days late will begin receiving offers from lenders to reduce their rates. Called the Streamlined Modification Initiative, borrowers will be able to reduce their payments by either having the loan extended from, say, 30 to 40 years, or their interest rates will be reduced—but the principal will remain. Borrowers with a high-rate loan who could not qualify for a refi during the era of ultra-low interest rates merely do a trial run of making payments three consecutive months and the modification becomes permanent. As CNNMoney tells MHProNews, other requirements include the loan must be at least 12 months old, borrowers cannot be more than 24 months in arrears and their principal balances must be 80 percent or above the value of their home. The program is set to run through Dec. 2015.

(Image credit: mortgageloanrealtor)

Modular Builder Snaps up Lots

June 3rd, 2013 Comments off

The standard.net.au reports from Warrnambool in southeastern Australia on the Indian Ocean all 17 lots designated for affordable housing sold within hours of being placed on the block by the Warrnambool City Council. Seven of the homes were snapped up by Rod Stephens of Modular Homes, as MHProNews has been informed. Aimed at responding to high median prices in the city, the initiative is part of a federally supported project that will subsidize low-income housing.

(Photo credit: tektumdailymercury–modular home in Australia)

Symposium on Modular Housing Set for New York City

April 17th, 2013 Comments off

Architectural Record notifies MHProNews on May 9 the magazine in conjunction with the Architectural League of New York will host a panel discussion about the most recent developments in the design of modular multi-unit housing. Set for 7:00 PM at the McGraw Hill Auditorium, 1221 Avenue of the Americas in New York City, the gathering comes on the heels of the Bloomberg Administration’s My Micro NYC initiative to create a series of modular 250-375 square foot apartments on city-owned property in Murray Hill, as we reported Jan. 22, 2013.

(Photo credit: Excel Homes–multi-unit modular being sited)

Delaware Manufactured Homes Registered as Autos

April 16th, 2013 Comments off

Following up on a story MHProNews posted April 12, 2013 concerning a Delaware initiative to provide up to $5,000 to help manufactured home owners in financial hot water, we have learned Del. manufactured homes are registered through the Dept. of Motor Vehicles like automobiles, a throwback to the early days of pre-HUD Code homes. As WBOC-16 notes, this makes it difficult to obtain mortgage assistance. Often, especially for elderly residents, if a spouse dies and the survivor loses the deceased’s Social Security, it can become catastrophic to pay for the home and the site. Rep. Ruth Briggs King, who represents a district with numerous manufactured homes, and whose uncle owns an MHC, was one of the early supporters.

(Image credit: Wikipedia–image of Delaware)

Program Will Run another Year

March 18th, 2013 Comments off

Updating a story we posted March 8, 2013 concerning a program to demolish abandoned factory-built homes in Onslow County in southeastern North Carolina, MHProNews has just learned from jdnews the program will run through Feb. 2014. The initiative is funded jointly by grants from the state’s Manufactured Home Demolition Assistance Program and the home’s owner, who, because of financial inability, cannot afford to remove it. The owner receives assistance based on a sliding scale upon proof of resources, and the state picks up the remaining tab.

(Photo credit: jdnews)

MHC Residents Seek Closure Ordinance

March 15th, 2013 Comments off

The dailypilot informs MHProNews from Costa Mesa, Calif., just south of Los Angeles, a number of MHCs, especially those with a view of the ocean, may be on the verge of conversion to condominiums or other types of development. The Golden State Manufactured-Home Owners League (GSMOL) has been meeting with residents of some of the 18 MHCs in Costa Mesa seeking support to encourage city council to pass an ordinance governing the closure of MHCs. A measure was approved by the planning commission about ten years ago but failed to pass the city council. That initiative began following the closing of two MHCs in which some of the residents allegedly faced an uncertain future when they did not receive fair compensation.

(Photo credit: Christopher Weddle/centredailytimes–MHC emptying out)

 

Academia Partners with Private Industry

January 2nd, 2013 Comments off

Archinect tells MHProNews as part of a settlement between the U.S. Environmental Protection Agency (EPA) and the Tennessee Valley Authority (TVA) for alleged violations of the Clean Air Act, the University of Kentucky College of Design in cooperation with two non-profits will build four more energy efficient modular homes with photovoltaic generated energy systems. Following up on a story we published April 19, 2012 about houseboat builder Stardust Cruisers converting to modular homes construction as the watercraft business declined with the economy’s downturn, the $504,000 the College of Design receives will go towards researching and building the new dwellings. Two modular homes built last year were sold to area residents who met low income guidelines. The Houseboat to Energy Efficient Residences (HBEER) initiative is creating green jobs and bringing back some of the 575 employees who originally worked in the southeastern Kentucky marine industry. Future projects will include energy efficient multifamily housing and classrooms to replace outdated portable units.

(Photo credit: Whitney Hale/UKNowNews)

HUD’s Investment Generates Private Investment

December 5th, 2012 Comments off

HUD’s Office of Sustainable Housing and Communities (OSHC) reports in its attempt to coordinate housing and jobs in specific communities, in 2010 and 2011 it awarded 152 grants in 48 states totaling $240 million that in turn generated $253 million in private investments and commitments from local partners. HUD’s investment of $95.8 million in 2011 generated $115 million in matching and in-kind contributions, more than 120 percent of the original investment. “HUD estimates that its two years of grant funding will have a positive impact on 133 million Americans by helping their communities and regions become more efficient and competitive while improving their quality of life,” according to the report. As an example, the Aerotropolis Initiative in Memphis, Tenn. integrated housing, transportation and economic development in stimulating investment near the Memphis airport. Developed in collaboration with FedEx, Graceland, and biodevice companies Medtronic and Smith Nephew, MHProNews has learned the initiative will lead to the creation of 3.000 jobs and millions in private capital investment.

(Graphic credit: Dept. of Housing and Urban Development)