Manufactured Homes can now be purchased using Section 8 vouchers. The U.S. Senate passed H.R. 3700, the Housing Opportunity Through Modernization Act (HOTMA). The Manufactured Housing Institute (“MHI”) issued a Housing Alert today, July 15, 2016, announcing the passage of H.R. 3700 and explaining the benefits.
MHI has worked years to accomplish this alternative financing for the manufactured housing community. The option provides flexibility for low income buyers, affordable housing mobilehome parks and other mobilehome parks additional group of potential residents, dealers and manufacturers a new group of customers and local jurisdictions a new financing vehicle to acommodate low income households.
All in all, a win for every person, industry and governmental agency involved in affordable housing, particularly the manufactured housing industry and consumers.
L. Sue Loftin is the Founder and Managing Shareholder of The Loftin Firm. For questions relating to this blog or any other California real estate, corporate governance, land use, or estate planning matter, contact Ms. Loftin at 760-814-9649.