Posts Tagged ‘section 8 housing’

Bill to Use Section 8 Vouchers to Buy Manufactured Home Signed by President Obama

August 5th, 2016 Comments off

mfg home credit mhpronews postedDailyBusinessNewsMHProNewsFollowing up on the recent Senate passage of a bill that passed in the House in February – The Housing Opportunity through Modernization Act (HOTMA), posted on MHLivingNews and picked up hundreds of mainstream media outlets and advocacy sites – President Obama signed that bill it into law, as expected.  The bill willl allow Section 8 vouchers to be used for the purchase of a manufactured home (MH),

Currently, the vouchers can be used only for renting an MH, but the new law will allow those who qualify for Section 8 housing to use the vouchers for mortgage payments, property taxes and insurance for the entire year. The goal is to enable those of limited means to become homeowners, according to nationalmortgagenews.

A coalition of advoacy groups, including manufactured housing, were instrumental in the passage of the act. Lesli Gooch, from the Manufactured Housing Institute (MHI), said public housing agencies and HUD need to reach out to families to make them aware of this program; and work with lenders, including state housing finance agencies and the Rural Housing Service (RHS) to make sure lenders will honor the vouchers.

RHS currently finances MH only if the home is secured by land, or they will lend if the home is on a 99-year lease. “However, USDA (United States Department of Agriculture) is conducting a pilot in Vermont, New Hampshire and Oregon that allows borrowers to lease land for two years longer than the mortgage term,” according to an RHS spokesman.

Sponsored by Reps. Blaine Luetkemeyer, R-Mo., and Emanuel Cleaver, D-MO., the bill also authorizes the USDA to develop a direct endorsement program for the RHS whereby private lenders can approve loans. This will expedite the loans since the staffing at RHS has been diminished, and each loan must be approved by the agency.

The law further includes reforms to the Federal Housing Administration (FHA) condominium program.  Learn more at the link here##

(Photo credit: MHProNews-manufactured homes)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

Alleged Funds Mismanagement may Mar Affordable Mods

May 29th, 2013 Comments off

The tri-parishtimes informs MHProNews that alleged overpayments to several staff members and other wrongdoing by the Morgan City Housing Authority (MCHA) in Morgan City, Louisiana may be investigated by the Dept. of Housing and Urban Development (HUD), which would likely forestall a planned modular public housing community. Federal civil service guidelines restrict bonuses to no more than ten percent of salaries, but one staffer received nearly double the salary. The authority’s board chairman, Victory Ho, says an audit revealed payments above $90,000 were made to four employees, and non-monetarily, the files of 25 tenants in Section 8 housing showed 20 violations. Some of the buildings operated by MCHA had failed inspections, and the bookkeeping for the authority was incomplete. He says, “Last year, HUD awarded us $417,243 to make large-scale improvements to our community. Is there any money left? I just don’t know. And sadly, we have a waiting list of at least 100 families who are in need of public housing.” With this money misspent, Ho fears the modular public housing community that has been approved to replace run-down Brownell buildings will not be built.

(Photo credit: Excel Homes)

Like a Phoenix from the Ashes…

April 25th, 2013 Comments off

Updating a story MHProNews last covered April 27, 2011 regarding the wildfire that destroyed 488 of the 600 manufactured homes at the Oakridge Mobile Home Park in Sylmar, Calif. in Nov. 2008, 60 spanking new manufactured homes have risen from the ashes and are now rentals. The dailynews says the original community, known for its luxurious amenities, and called the “Beverly Hills of mobile home parks,” only allowed higher end owner occupied MH, and it was the worst single loss of homes in Los Angeles history. Following the fire and the fall of the housing market, many residents could afford to buy a traditional home for less than a manufactured home, and did not move back, and the owners, Continental Mobile Housing, were scrambling to find residents. Residents who did return initially opposed allowing renters in, fearing it was Section 8 housing, but now with 350 of the 600 homesites occupied, residents say the units are well maintained. Residents must sign a 12-month lease for the two and three bedroom units, built and landscaped to blend with the more expensive homes. Rents are $831 to $1,063 a month, and there are 400 people on a waiting list. The $13 million project was a collaborative effort on the part of federal, state, city, and non-profit groups.

(Photo credit: Michael Owen Baker/dailynews–MH being readied at Oakridge MHP)

Kent. Students Design Modular Homes

January 21st, 2013 Comments off

Although they did not win the competition sponsored by Alltech of Nicholasville, Kent., to create jobs in eastern Kent., students from the University of Louisville proposed mixed-income, single-family modular homes selling for $110,000 each that would create 122 jobs. Utilizing design work created by a partnership with the University of Kentucky College of Design and non-profit Kentucky Highlands, with builder Stardust Cruiser of Monticello, as MHProNews covered Jan. 2, 2013, the homes would qualify for Section 8 housing. According to Kentucky, the student team estimated start-up costs of $640,000, offering investors 65 percent equity in the project.

(Photo credit: Whitney Hale/UKNowNews)