A mobile-home park in New Ipswich has become the 110th in the state to be purchased by its residents. That means that nearly a quarter of the state’s 450 so-called “trailer parks” are now owned by the people who live in them.
Juliana Eades, President of the New Hampshire Community Loan Fund which financed the deal, says banks won’t give mortgages to people who live in manufactured homes located on someone else’s land.
“So these regular mortgages aren’t available so some of the alternatives in the market are more like financing a vehicle, like a car or a boat,” she explains.
The Vaillancourt Mobile Home Park in New Ipswich contains 51 units. With the purchase of the land, more than 6,000 New Hampshire residents now live in community owned coops.