affordable housing

[michael sotire]

Hello Chrissy,

Would any of your readers be interested in the following ?

The Flo Foundation is a non profit organization with a focus on affordable housing, and working primarily through "The Blueprint for the American Dream" legislation, which seeks to make affordable housing a realistic pursuit for all. Freddie Mac and Fannie Mae are partners in the project, which is national in scope.

One of the service provisions of the intiative is funding and grants for home/community improvement and lower interest refi's and new mortgages for MH communities and home owners. We work in conjunction with the Work Force Investment Act, which enables a workforce and economic development effort to spearhead the effort.

Communities looking for opportunities to appreciate their value while offering better finance packages to renters/owners are free to inquire. One aspect of the program is investigation of the home and/or community to determine if a permanent foundation would help to lower the interest rate. Thank you.

Michael Sotire
The Flo Foundation

[chrissy]

Michael - thanks for sharing some good information. Let's hope someone takes you up on your offer to appreciate the value of their community.

[Elaine Ellis]

What kind of a community would benefit from this program? My husband and I just purchased a 55 plus community in Rogue River Oregon. It's 26 spaces and we currently have one vacant space and one mobile for sale by owner. But they are not realistic on price. In fact the previous owners told them if they did't do the necessary repairs they would have to move the mobile out. The park was started back in the 70's. It is also on well and septic.

So based on this info would the park qualify and what would the advantages of putting a program like that in place?

[D.Abben]

I work for a community developer/retailer. Does this have anything to do with the Leasehold Estate program(99 year lease) sponsored by Freddie Mac??????????? Thanks.

[michael sotire]

The individual homes may be able to be refinanced at a much lower interest rate if they meet the new standards for permanent foundations; thereby, appreciating the value of your park because your property will become real and not personal .www.hud.gov. offers info. You need to discover how many of the homes are or can be placed on a permanent foundation.

[michael sotire]

It encompasses the plan, but it is not specific to it.There are two major components - individual home and mobile park conversions that include improvements and potentially lower interest rates on take back financing.- and, an affordable housing component for homeless veterans.

[Ron Cobb]

By 'permanent foundation' do you mean concrete or block perimeter foundation, or do you include the new vector based tie-downs now approved by FHA as permanent? Thanks

[michael sotire]

Ron,

A veterans initiative will be a announced soon that will implement a manufactured housing affordable housing program, which will include specific information and financial regulations regarding permanent foundations.

The overall plan is to construct factories in which will be built the homes that will become available to veterans. The veterans will learn to build their own homes and become employed in the process. I'll get more to you when it is released. It is being called Project Home Town.

[michael sotire]

Ron,

A veterans initiative will be a announced soon that will implement a manufactured housing affordable housing program, which will include specific information and financial regulations regarding permanent foundations.

The overall plan is to construct factories in which will be built the homes that will become available to veterans. The veterans will learn to build their own homes and become employed in the process. I'll get more to you when it is released. It is being called Project Home Town.

[michael sotire]

Ron,

A veterans initiative will be a announced soon that will implement a manufactured housing affordable housing program, which will include specific information and financial regulations regarding permanent foundations.

The overall plan is to construct factories in which will be built the homes that will become available to veterans. The veterans will learn to build their own homes and become employed in the process. I'll get more to you when it is released. It is being called Project Home Town.