We enjoyed the Christmas show but was disappointed that the new Hud law passed in 2016 and supposed to be implemented in 2017 was not among frank and daves “nice list”.
So does anyone know the status of this new law which allows Hud renters to buy a mobile home instead of renting. Frank and Dave had previously stated in a newsletter that this law would dramatically change the mobile home industry - and yet it was not even mentioned during the year-end show. Did I miss something??
We discussed that, but unfortunately HUD has not put that program into effect yet, and to make the Nice List you have to actually do something, not just talk about it. We put Fannie Mae and Freddie Mac on there because they have made a large number of mobile home park loans in 2016. But there has been zero HUD voucher for mobile home activity. Many of these laws get passed and never enacted. The ball is in HUD’s court to make the Nice List for 2017. Obviously, we hope they’ll do something to enact the law. But don’t forget the $50,000 SAFE Act exemption caper a couple years ago where they talked about exempting transactions smaller than $50,000 and then did nothing. Santa’s not that gullible.
1 Like