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Contact: Kristin Lawton, 202.408.9788

Jun 15, 2009

CFED's I'M HOME Celebrates Manufactured Housing Week

CFED's I'M HOME Celebrates Manufactured Housing Week

Contact: Kristin Lawton 202.408.9788

Initiative Makes Homeownership a Possibility for Millions of Americans

Washington. D.C. - This week, National Manufactured Housing Week, Innovations in Manufactured Homes (I'M HOME) is dispelling myths and opening the doors of homeownership to all income levels in America, by improving housing in a previously ignored sector - manufactured homes. Home equity is the most important source of wealth for most American families, yet for many, the cost of homeownership is increasingly out of reach. I'M HOME, a multi year initiative that seeks to ensure that families who own these homes can reap the same benefits of homeownership as families who buy other kinds of homes, is an initiative of the Corporation for Enterprise Development (CFED), a national nonprofit dedicated to expanding economic opportunity for all Americans.

Manufactured housing is a significant source of affordable housing that opens the doors to homeownership for families, who in many of the nation's housing markets, cannot afford to buy a site built home. More than 17 million Americans live in manufactured homes. I'M HOME supports programs across the country that are helping families who choose manufactured homes make sure these are good investments.

Now in its fifth year, I'M HOME is developing attractive new housing and replacing dilapidated homes; changing the way manufactured homes are financed; working with families who live in "parks," where there are special challenges; and working with policymakers to make sure the same benefits and protections are available to everyone who buys a home, regardless of how it's built.

"Manufactured homes not only provide long term, lower cost housing, but they can also help build financial security for millions of families through ownership," said Andrea Levere, CFED president. "Manufactured Housing Week is an opportunity to bring awareness across the country that there is a great opportunity to create better quality, better financed housing in this very large market."

I'M HOME is supporting initiatives and programs with over 30 community partners across the nation that demonstrate the ability to provide high quality housing in varied communities. I'M HOME support has facilitated the establishment of 13 resident owned communities in five states; a replacement housing program in Tucson, Arizona; the development and launch of responsible manufactured housing mortgage products in Minnesota; the design and installation of new energy efficient and affordable high quality manufactured homes in Kentucky; and 20 state and federal policy changes that help manufactured home owners.

I'M HOME has awarded $4.5 million in funding for manufactured home initiatives since 2005. Major funding for I'M HOME is provided by the Ford Foundation.

More information on I'M HOME can be found at www.cfed.org/go/imhome.

CFED expands economic opportunity by helping Americans and their children build assets, save for the future, start and grow businesses, pursue education and become homeowners. We identify, refine and help realize good ideas and develop partnerships to promote lasting change. We bring together community practice, public policy and private markets in new and effective ways to achieve greater economic impact. Established in 1979 as the Corporation for Enterprise Development, CFED works nationally and internationally through its offices in Washington, DC; Durham, North Carolina; and San Francisco, California.