WELLS FARGO RELEASES FOURTH EDITION OF ITS MANUFACTURED HOME COMMUNITY FINANCING HANDBOOK

CARLSBAD, CA March 24, 2010 -Wells Fargo (NYSE:WFC) has released the Fourth Edition of its Manufactured Home Community Financing Handbook (attached hereto) created by Tony Petosa (tpetosa@wellsfargo.com) and Nick Bertino (nick.bertino@wellsfargo.com) of Wells Fargo’s Multifamily Capital office in Carlsbad, California. Read more »

Park Owner Sues to Have Senior Community Made All-Age

The owners of Napa Olympia Mobilodge in American Canyon, California, are suing the city to cause it to convert the mobile home park from seniors only to an all-age community.  In 2006, owner Ken Waterhouse announced he would lift the age restrictions at the park. And it has been nothing but posturing, city measures to block the conversion, and lawsuits since. Read more »

City Works With Alabama Mobile Home Park Owner To Clean Up Property

The city of East Brewton, Alabama is working with the new owner of Dauphine’s Mobile Home Park to clean up the property. The park, recently taken back by note holder Lynn Pitts, is in a state of disrepair, and the city is working with the new owner to bring it into compliance with city codes. Read more »

Mobile Home Park Owner Gifts $900,000 To Christian Television Station

Jim Galaway, a 78 year-old mobile home park owner in El Paso, Texas has given $900,000 to Channel 38,which broadcasts Christian television programs 24 hours a day from El Paso. The $900,000 is being used to buy a 13,000 square foot building and equipment that formerly housed Channel 4 in El Paso. Read more »

Huntsville, Alabama Trailer Park To Close

The Glenn Whitaker Trailer Court is closing in Huntsville, after 50 years in business. By July 1st, every trailer must be gone.

Glenn Whitaker, the owner, says that he is closing the park because he is in bad health and the park is as worn out as he is. The sewer lines are bad, and few of the residents pay their rent – and he doesn’t hassle them because he knows they can’t afford to pay it. Read more »

How To Make $100,000 A Year Cash Flow With One Mobile Home Park Investment

With the national economy in free fall, and millions of jobs being cut across all industry segments, many people are trying to formulate a plan to replace their income if they get laid off. And to many people, that income can approach $100,000 or more. So how do you replace $100,000 of income. For many people, the answer may be in a good old fashioned trailer park. Read more »

Fema To Sell 160,000 Trailers By April 3

The Federal Government is auctioning around 160,000 trailers on or around April 3. And they are being sold for any use other than a dwelling. These are the RVs and mobile homes that the government acknowledges contain not only formaldehyde, but also mold, mildew and propane gas leaks. All units sold will have large stickers on them warning that they are not suitable for any type of housing. Read more »

City Gets Proactive To Save Laurelton Mobile Home Park

Laurelton Mobile Home Park in Brick, New Jersey, has been plagued with problems. The water is constantly shut off due to leaks. The sewer frequently backs up. The roads are filled with giant potholes. There are a number of vacant homes, many with the metal or wood skin peeling off or missing on the exterior. And there are piles of junk everywhere. It sounds like a hopeless situation. Read more »

Mobile Homes & Frozen Pipes

By: Kevin Damaske

If you live in a mobile home in a colder climate frozen pipes should be at the top of your list of concerns.  It is best to keep an eye on them because as you know mobile home plumbing hangs directly below your structure and above the ground.  That means your pipes are normally the same temperature as it is outside.    Read more »

An Insider’s Guide To The Safe Act

There are probably few pieces of legislation in history that are more flawed and harder to understand than the Safe Act. And what was designed to safeguard average Americans from the abuse of the mortgage industry has actually turned into a costly, inefficient mess that will no doubt result in nothing more than removing a vast amount of available credit from the market at the worst possible time. Read more »