May 9, 2015 11:39 AM
Mobile home park faced foreclosure, now in residents' hands
The Associated Press
GILFORD — A N.H. mobile home park that faced foreclosure is now in the hands of its residents, who formed a cooperative.
The transaction involving the mobile home park in Milan closed on April 21, becoming the 113th resident-owned community in the state.
The residents of what's now known as Deer Estates Cooperative received help from a N.H. Community Loan Fund program called ROC-NH. It's helped convert privately-owned manufactured home parks to resident-owned communities since 1984.
The cooperative is researching how to replace its aging water system. It's now eligible for products and services such as mortgages.