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“The Housing Opportunities Through Modernization Act (H.R. 3700) streamlines and reforms federal housing programs to cut costs, encourage work, reduce homelessness, improve families’ access to high-opportunity areas, and improve public housing residents’ quality of life.”
– Center on Budget and Policy Priorities (CBPP)
Washington, DC July 14, 2016. The Senate has passed H. R. 3700, the Housing Opportunity Through Modernization Act (HOTMA), which will allow Section 8 vouchers to be used for the purchase of a manufactured homes, according to Congress.gov. The House of Representatives passed the legislation in February by an amazing 427-0 vote, in an amazingly bi-partisan fashion. President Obama is expected to sign the bill into law.
An amendment offered by Representative Peter Welch (D-VT) was added on the House floor — by voice vote – that allows Section 8 for the purchase of a manufactured home, and also could cover such costs as leasing the land, mortgage payments, property tax and insurance.
This change would actually allow lower income families to purchase a home instead of using their Section 8 voucher to rent an apartment.
The law of supply and demand suggests that if this is signed into law – as expected – and this option becomes popular, it could slow the steady rate of increase on rental housing. The program could also ease tight supply for HUD housing programs in some markets
While the measure does not provide any direct funds or require anyone to use a voucher to live in or buy a manufactured home, it will give some 2.1 million Section 8 voucher holders the option to use their voucher to acquire a manufactured home.
The amendment had bi-partisan supported by House Financial Services Committee Chairman Jeb
Hensarling (R-TX), and ranking member Maxine Waters (D-CA).
The main thrust of H. R. 3700 is to improve the quality of life for public housing residents, cut program costs, encourage work and expand homeownership opportunities.
Manufactured housing professionals were a part of a coalition including the National Association of Realtors ® and more than 40 housing and advocacy groups seeking Senate passage of this legislation.
A similar proposal was advocated by MHLivingNews editor, L. A. “Tony” Kovach. ##
(Top image credits: ManufacturedHomes.com, Sunshine Homes Inc, Red Bay, AL and graphic lettering by ManufacturedHomeLivingNews.com)
Article submitted by Matthew J Silver to Daily Business News-MHProNews.
