Broken or unstable pilings can become hazardous for floating home residents and their neighbors. The FHA has become aware that some residents can’t afford to replace damaged pilings, but now the Marin Housing Authority has announced it will finance the replacement of pilings owned by low income floating home owners.
Housing Authority of the County of Marin is a public corporation created pursuant to the Health and Safety Code of the State of California. The organization is authorized to provide decent, safe and sanitary housing for low and moderate income people. To qualify for a piling loan, borrowers must earn less than 80% of the median income in the County, which was $113,908 when last reported in 2017 (so the low income threshold would be $91,126).
MHA charges a simple 5% interest rate, and payments may be deferred. The replacement must be for housing solely owned by the borrower.
For further information, contact Marin Housing at info@marinhousing.org or (415) 491-2525.