Manufactured-home Owners
We offer loans and coaching services to residents whose parks are for sale and for homeowners in resident-owned communities (ROCs) or on their own land who want to refinance their loans.
Is Your Park For Sale?
New Hampshire law gives you just 60 days during which the owner must negotiate in good faith with the tenants about buying the park. But you must offer a purchase-and-sale agreement within a 60-day window.
If you recently learned that your manufactured-home (mobile) park is being offered for sale, you’re probably worried about what that will mean for you, your home, and your family. Being worried is perfectly normal.
The good news is that New Hampshire law gives you more rights than you probably think you have. You and your neighbors might even be able to buy the park and run it yourselves, as a resident cooperative (co-op). Buying the park puts you, the residents, in charge. You vote each year on the co-op's budget, you set the rules, you decide what gets fixed and when. You can make your community whatever you want it to be.
The type of sale being proposed determines how quickly you need to respond. The first thing you should do is call us at ROC-NH™ to understand your rights and your options. You might not get this opportunity again.
ROC-NH™ is a program of the New Hampshire Community Loan Fund, Inc. and a ROC USA® Certified Technical Assistance Provider. ROC-NH™ is a registered service mark of ROC USA, LLC.
For residents wanting to know more about the acquisition process (buying their park) please contact Hannah Chisolm
For park owners wanting to know more about selling their park to residents they should contact Richard Weisberg.
NPR’s Chris Arnold reports for their Planet Money team on how residents are hurt when investors buy their manufactured-home park in this hard-hitting story titled, Why Are Investors Buying Up Mobile Home Parks And Evicting Residents?
This is usually very good news. It often means your current owner doesn’t have an offer from another buyer, and possibly prefers to sell it to the residents. This can happen for a variety of reasons, most often the owner’s wish to retire or simply to get out of the manufactured-home-park business.
The decision process for residents is mostly the same, but without the immediacy and stress of a 60-day deadline (though the owner might set a deadline for other reasons), and without a competing offer you need to match.
This is how most parks have been converted to resident-ownership. In New Hampshire, every park owner who receives a signed purchase and sale agreement for the land must notify every tenant by certified mail that he or she intends to sell the park. N.H.’s legislature passed this law in 1988 to give manufactured-home-park residents the opportunity to control the land under their homes.
Why? From the date you and your neighbors receive that notice, state law gives you just 60 days during which the owner must negotiate in good faith with the tenants about buying the park. If you and other tenants decide to try to buy the park, you must offer a purchase-and-sale agreement within that 60-day window.
The ROC-NH team is used to the tight deadline, but there’s a lot of work to be done in that 60 days. If you receive a Notice of Park Sale, contact ROC-NH immediately at 800-432-4110 to learn what it means for you!
Contact Us
Contact Hannah Chisholm, to discuss selling your park to your residents.
Call Hannah: 603-856-0753
Welcome Home Loans
Today’s mortgage-lending system makes it hard for owners of manufactured homes to refinance their loan so they can take advantage of better terms or add to or improve their home.
That’s why we created Welcome Home Loans. These are fixed-rate, long-term conventional loans for manufactured homes located in ROCs or on the homeowner’s land.
If you need cash to make home improvements, pay for a child’s education, or make a dream purchase, we might be able to help.
Learn MoreIf you’d like to lower your home loan’s monthly payment or pay off your mortgage faster, consider refinancing your mortgage.
Learn More“The Community Loan Fund helped me clear up everything and put myself in a position to buy,” John [the home buyer] says.
Learn More“It’s an awesome feeling. I’ve never been proud of myself, but I could not be more proud of myself right now,” Antonicia says.
Learn More“I love it. I know what I’m going to pay every month, and know I can afford it, so I don’t have that stress”
Learn MoreThe Community Loan Fund saw an opportunity to help provide permanent homes for the vets.
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