Proposed HUD rule on RV USE Definition

DutchmenSport wrote:
I posted on the previous threads, this is n attempt for HUD to tighten the financial belt who they guarantee home loans to by redefining what is a "house" and what is an "RV." Park Models 400 square feet are the real problem. HUD already will not guarantee a home loan on an RV. AND there is nothing keeping anyone from full timing in an RV. You just can't get a HUD home guaranteed loan to purchase an RV. (but that already exists.) It may also eliminate any possibility of calling an RV a "second home" and subject to tax write off for income tax purposes. But as far as the RV life-style ... I don't see any impact at all.

It won't effect the mortgage deduction either. The IRS and HUD are separate entities. The IRS definition for a second home is clear. Many Boats qualify, many RVs qualify and it is possible to build something over 400 sq. Feet that does not qualify (i.e. build a barn for horse on a chunk of land you own, that isn't a second home). This is all about Government insured mortgages and protecting the consumer from being suckered into buying an RV that isn't suitable for full time living. (we can all thank the Tiny Home movement if such a movement really exists and isn't just a product of reality TV for HUD suddenly becoming interested in this.)