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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.


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