Man shoots sleeping girlfriend in Largo mobile home park

Table of Content

• Existing Site-Built Home Sales Continue to Fall as Manufactured Home Sales Surge
• Top 5 Ways a New Manufactured Home Has Become the “Makes Sense” Choice for Aspiring Home Buyers
• Local News |
• manufacturedhomelivingnews.com Manufactured Home Living News
• Upstate New York mobile homes for sale with land
• Par 4 Mobile Home Community providing rent-free FEMA trailers for people in need

New York Attorney General Letitia James is suing the owners of a Long Island nursing home who also have stakes of dozens of other facilities nationwide. It is the third suit she has filed in six weeks alleging financial fraud and abuse of nursing home residents. In a statement, Clayton Homes, the parent company of 21st Mortgage, said it didn’t make loan modifications, believing that offering borrowers a short-term credit for a missed payment works better.

If residents of mobile-home parks can’t keep up with rising rents, or can’t afford to make the often extensive alterations to porches, gardens and awnings that are required under the new management’s rules, they are swiftly replaced. With prices and rents for all kinds of housing soaring in many parts of the country, demand for manufactured housing is climbing. Many young professional families and college students turn to mobile home parks as a final vestige of relatively affordable housing. In legislation introduced this month, Mr. Boesenecker proposes requiring park owners to allow residents or a local government to make the first offer. Another bill is being drafted that would give residents access to a loan fund that would help them compete with private equity firms, many of which receive government-sponsored financing to purchase parks. “That’s where Tri-Park comes in, as an example of a new model for buyouts within mobile home parks, centered around making people whole and making sure they have somewhere to live that’s safer and more resilient,” Smith said.

Existing Site-Built Home Sales Continue to Fall as Manufactured Home Sales Surge

In others, residents were notified but struggled to coalesce quickly enough to make a purchase offer. When the Sans Souci mobile home park near Boulder’s scenic Flatirons was purchased by a corporate landlord in 2018, residents weren’t given a chance to make an offer. It wasn’t until residents received a notification of new rules attached to their door that residents learned the park had even been put up for sale, according to a resident. A few weeks later, maintenance crews showed up and began mowing down bushes, trees and flowers. But McCarthy thinks Fannie and Freddie should do more, like trying out a new program to help residents to buy their own parks.

In Minnesota, park purchases by out-of-state buyers grew from 46% in 2015 to 81% in 2021, with rent increases as much as 30%, according to All Parks Alliance For Change, a state association. In my latest post, I talk about a couple of resources that I’ve been going to for years to get the inside scoop on what’s going on in the manufactured housing industry. And many times, these resources have uncovered things that I had no idea was going on.

Top 5 Ways a New Manufactured Home Has Become the “Makes Sense” Choice for Aspiring Home Buyers

Harwetha Browning, 58, who rents a two-bedroom mobile home with her cousin at the Suburban Woods Mobile Home Park in Union City, Ga., said she was served with an eviction notice in April. She said she and her cousin had fallen behind on the $924 monthly rent because both had recently had unsteady income and health problems. Ms. Browning, who had Covid-19 last summer, was just about to return to work as a house cleaner when she was injured in a car accident, she said. Timothy Bruhn, the owner of a mobile home in the Winterset Farms community in Wilmington, Del., said he had recently staved off an attempt by the park’s operator to evict him. The operator, a California real estate firm, said he had violated a rule about grilling too close to his house, which Mr. Bruhn denied.

The $1.9 trillion American Rescue Plan Act, signed into law in March, included $10 billion for a Homeowner Assistance Fund, which earmarks money for the most vulnerable homeowners facing foreclosure. State officials lobbied the Treasury Department to make sure some of that money goes to residents of mobile homes. Treasury is expected to release new guidance soon on how the money can be spent. The plight of residents at Ridgeview is playing out nationwide as institutional investors, led by private equity firms and real estate investment trusts and sometimes funded by pension funds, swoop in to buy mobile home parks.

Local News |

But he is concerned because the company has decided to appeal the ruling. In New York courts, at least a dozen repossession actions of trailers bought with chattel loans have been filed in recent months — setting the stage for quick ousters of those homeowners. Already, there are indications that evictions could rise when the moratorium and postpandemic relief ends. In May, a local judge bought Ms. Burnworth some time when he temporarily stopped 21st Mortgage from foreclosing and delayed a trial until this fall. She has the money to restart her mortgage payments of $507 a month, she said, but cannot afford the $14,900 the company also wants for the missed payments. According to Strive Communities, the rent increases were intended to bring rates closer to market rate, and the company invested nearly $1 million in park improvements.

But banks won’t often lend to mobile home owners, partly because the loan amounts are too small to be profitable and because the federal government doesn’t typically guarantee those mortgages. Instead, the mobile home financing market is dominated by five lenders, including 21st Mortgage and Vanderbilt Mortgage — two units of Clayton Homes, a Berkshire Hathaway business. Across the country, corporate landlords are expanding manufactured housing portfolios and driving up rents, pushing longtime residents out. They also want Fannie Mae and Freddie Mac to stipulate in loans they back that rents remain affordable. And they support residents purchasing their communities, which started in New Hampshire and has reached almost 300 parks in 20 states.

Bishop lives in Tri-Park Co-operative, Vermont’s largest and oldest resident-owned mobile home community. The co-op represents a crucial source of affordable housing for about 1,000 residents, but many of its lots are vulnerable to flooding. Bishop said her property has flooded about five times since the early 2000s, and while their home has been spared thus far, she still worries.

A family member later found the couple inside the home and called the police. We invite you to use our commenting platform to engage in insightful conversations about issues in our community. Dec. 18 for a report of heavy black smoke in a mobile home at 7166 Mentor Ave., Lot 24. The incident was called in by a neighbor at the Mentor Green Mobile Estates. "I bought a place and now they are forcing all this on us," said Korb, who stopped paying rent in protest. Residents, about half of whom are seniors or disabled people on fixed incomes, put up with the first two increases.

Upstate New York mobile homes for sale with land

Then, just a month after purchasing the park, the company offered to sell it to the residents — at a far higher price than the company had just paid for it. Once again, though, the deal fell through, when the company declined the residents’ offer in January. They formed a cooperative to offer to buy the park themselves and were on track to obtain financing from ROC USA Capital, which supports resident-owned communities across the country. GOLDEN, Colo. — When Sarah Clement moved to the Golden Hills mobile home park two years ago, she felt like she had won the lottery. After years of squeezing into one-bedroom apartments with her, her 7-year-old son finally settled into his own bedroom, his toys splayed out in the yard and his school just at the edge of the park. On top of rent increases, residents complained of being inundated with fees for everything from pets to maintenance and fines for clutter and speeding — all tucked into leases that can run upwards of 50 pages.

Local politicians rallied around them, and the city voted to zone the park for manufactured-home use only. The Colorado couple that owned the park for years had put it up for sale. Ms. Clement and her neighbors knew that if the park was taken over by one of the big manufactured-housing operators who were buying up parks all over the state, the rents would dramatically increase. Cook, which claims to be the largest operator of mobile home parks in New York and has a slogan "Exceptional Opportunities. Exceptional Returns," declined to comment.