- Associated Press - Saturday, May 9, 2015

GILFORD, N.H. (AP) - A New Hampshire 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 land adjoins an all-terrain vehicle trail and is near an airport, so residents weren’t sure what other potential bidders would do with the property.

The residents of what’s now known as Deer Estates Cooperative received help from a New Hampshire 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 now researching how to replace its aging water system. It’s eligible for products and services such as mortgages.

“I wish I’d reached out to the homeowners sooner to sell my park,” said former owner Robert Biggart. “If I’d known earlier, it would have been better for the residents to have that opportunity earlier.”

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