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Posts Tagged ‘arrears’

Manufactured Homes on Block if Taxes not Paid

August 16th, 2013 Comments off

In an attempt to recover taxes on manufactured homes that have not been paid in three years, the municipality of Parkland County in central Alberta, Canada holds an auction on the properties. The jurisdiction makes every attempt to notify the owners of the levy, but people sometimes are not aware of the arrears. Jennifer McAdam of Parkland County government, says, “Some of those properties are on vacant land, some are on farmland, some have houses on them, some have people living in them, some have been abandoned, some people have died and nobody has looked after the property — there’s all kinds of reasons why things fall awry.” The 2013 list of manufactured homes originally contained 23 homes, but by the time the auction occurs many of the debts will have been cleared and there may only be four or five homes, according to sprucegroveexaminer. But there is only a legal description for the properties, so most of the homes do not sell because they have not been seen. In the 16 years of the program, no manufactured home has been taken away from someone living in it, as MHProNews has learned.

(Image credit: photobucket)

North Dakota Oilfield Camps in Jeopardy of Being Closed

August 7th, 2013 Comments off

Williams County commissioners in Williston, North Dakota are denying two Conditional Use Permit (CUP) extensions for workforce camps built to service oilfield workers. The extension for Rik Ostert was denied because he did not build a road he agreed to three years ago, and then rented space on his property for a commercial business after the commissioners denied his request to do that. Ostert was given 60 days to remove his seven modular homes. The extension for Stallion Oilfield Services was denied because the company is using 52 skid trailers and recreational vehicles for housing instead of modular units, and rented space to another company. Stallion was also given 60 days to vacate, as MHProNews has learned from willistonherald.com. In addition, Target Logistics owes over $1 million in fees, including $608,000 for 2013, and back fees for 2012. With over $3 million still owed to the county, those in arrears were given one week to pay their fees or risk having their facilities shut down.

(Photo credit: associatedpress–modular mancamps at Williston, ND)

Seriously Delinquent Mortgage Borrowers may Reduce Payments

July 2nd, 2013 Comments off

Borrowers with mortgages backed by Fannie Mae and Freddie Mac that are at least 90 days late will begin receiving offers from lenders to reduce their rates. Called the Streamlined Modification Initiative, borrowers will be able to reduce their payments by either having the loan extended from, say, 30 to 40 years, or their interest rates will be reduced—but the principal will remain. Borrowers with a high-rate loan who could not qualify for a refi during the era of ultra-low interest rates merely do a trial run of making payments three consecutive months and the modification becomes permanent. As CNNMoney tells MHProNews, other requirements include the loan must be at least 12 months old, borrowers cannot be more than 24 months in arrears and their principal balances must be 80 percent or above the value of their home. The program is set to run through Dec. 2015.

(Image credit: mortgageloanrealtor)

MHC Behind on Utility Fees and Taxes

August 20th, 2012 Comments off

mlive tells MHProNews the Swartz Creek Meadows MHC in Lennon, Michigan has until Aug. 31 before the Clayton Township Board of Trustees initiates legal action for unpaid water, sewage, and property taxes totaling $167,697.73. Swartz Creek owner MHPI Inc., does not deny it owed the township, but a misunderstanding at a meeting in October, 2012 led MHPI to believe part of the money in arrears had been forgiven when in fact it was not. Clayton Township Treasurer Clayton Gehringer says the township has the right to cut water and sewer service to the community, but that presents a moral dilemma because the MHC residents have likely paid their bill to MHPI, but that money has not been passed on to the township. In addition, the township government is required to collect these monies by law and on behalf of other citizens who do pay.

(Photo credit: Ron MacArthur/Cape-Gazette)

Housing Recovery? Must the Deck Clear First?

August 10th, 2012 Comments off

The Mortgage Bankers Association (MBA) reports that Federal Housing Authority (FHA) foreclosures started spiked 60% from the first quarter, hitting 1.53%, the highest point in several years. Excluding foreclosures, according to NationalMortgageNews, FHA delinquencies fell to 11.89% from the first quarter’s 12%, while the inventory of FHA foreclosures increased to 4.23% in Q2 from 3.89% in Q1 2012. With approximately $1.2 trillion in VA and FHA loans on the books, the MBA estimates $100 billion in FHA mortgages are delinquent. One year ago the delinquency rate on all residential mortgages stood at 8.44%. They had fallen to 7.4% by the end of the first quarter 2012, but climbed back to 7.58% by the end of the second quarter, MHProNews has learned. According to the MBA, excluding foreclosures, $675 billion of home mortgages were in some stage of arrears as of June 30.

(Photo credit: Wikipedia)