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Posts Tagged ‘hook’

Eliminating GSEs could Still Leave Taxpayers Exposed to Risk

March 6th, 2013 Comments off

According to Anthony Randazzo, director of economic research at Reason Foundation, the federal government’s continued belief that everyone should own a home is what created the housing bubble in the first place, and it could happen again. Writing in the Orange County Register, he says with Fannie Mae and Freddie Mac being propped up to the tune of $187 billion, and continuing to offer subsidized insurance to mortgage investors with no upper limit on the size of the loans they may purchase could lead to another meltdown. The Bipartisan Policy Center, which includes two former HUD secretaries and Sen. George Mitchell, proposes phasing out the GSEs within five to ten years and replacing them with a new entity that would not buy mortgages but would offer catastrophic insurance against another meltdown. As MHProNews has learned, that would continue to leave the government on the hook for another bailout, protecting the banks and investors once again.

(Image credit: bankrate)

MHC to Receive Public Sewer Lines

October 30th, 2012 Comments off

With the soil long inundated with septic systems, residents of Greensprings Mobile Home Park in James City County, near Williamsport, Virginia implored the Board of Supervisors to extend public sewer lines to the community, according to Virginia Gazette. Owner Franklin Management Co. has been pumping and hauling sewage for years, but some backs up into yards, and threatens residents’ health. As MHProNews has learned the supervisors hesitated to pass the measure, fearing the owner would pass the $600,000 cost of the hook-up on to the residents, or develop the property into single-family homes, since the sewer lines would increase the value of the land. An agreement was eventually signed preventing the owner from passing the cost onto residents.

(Photograph credit: Virginia Gazette)