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Department of Housing and Urban Development (HUD) announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA). Last month, the U.S. That’s why I find it interesting.
But while FHA, Fannie and Freddie combined are responsible for over two-thirds of all new home loans nationwide, they financed only three (FHA) personal property manufactured homes last year. Many are in need of significant repairs but are owned by mom-and-pop operators without the capital necessary to carry out critically needed renovations.
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