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Updated: 12:42 AM Aug 6, 2008
Housing bill increases loan limit for manufactured homes; could help Elkhart industry
Congress passed a new housing bill that increases the limit on FHA loans for manufactured homes, from $49,000 to $70,000.
Posted: 11:38 PM Aug 5, 2008 |
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Congress has upped the ante for the manufactured housing industry, and that could be good news for the Elkhart County economy.
Congress passed a new housing bill that increases the limit on FHA loans for manufactured homes, from $49,000 to $70,000.
"To give you an idea, in 1992 there were over 30,000 FHA loans for manufactured housing, and this most recent year there were only 2,000, so that kind of disappeared," explains Congressman Joe Donnelly.
He hopes the bill will help kick-start Elkhart County's manufactured housing industry.
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