Montpelier, Vermont - Tropical storm Irene destroyed hundreds of mobile homes in Vermont.
The problem many owners still face is getting the financing needed to rebuild because they don't own the land where their homes sat.
Some Vermont lawmakers are considering a unique solution that's already helping people in New Hampshire.
Vermont State Senator Vince Illuzzi says turning the state's mobile home parks into Co-ops is the right thing to do.
He says the proof can be found in the Granite State.
"The number of mobile home park owners in New Hampshire is rapidly increasing," says Illuzzi.
The New Hampshire Community Loan Fund helps mobile homeowners buy the land they live on once the owner of the trailer park is ready to sell.
"Vermont is positioned and, in fact, encourages existing non-profit mobile homes to convert to a co-op," says Illuzzi.
He says owning the land your home sits on allows for easier and more conventional financing.
"As we found as a result of the storm, there are a number of residents who simply do not have the money or the financial ability to borrow or replace those homes," explains Illuzzi.
That's important in a state where about 750 mobile homes were destroyed by Irene.
Rick Minard is the Vice President of the Loan Fund. He says New Hampshire has turned 100 trailer home parks into Co-ops.
We asked him how many have failed.
"Zero! None of the co-operatives have failed. They've all paid off their loan," says Minard.
He says the Co-ops act like their own community.
"They set the rent, they decide how much they need and they try to keep it as modest as they can," says Minard.
Comment Agreement
