Archive

Posts Tagged ‘thousands of dollars’

County Tries to Catch the Scofflaws

May 9th, 2013 Comments off

The riograndesun informs MHProNews the Rio Arriba County Commissioners in New Mexico have adopted a resolution that would require manufactured home owners to obtain a tax certificate before moving their homes. While public hearings would be held before the the measure becomes law, the resolution would assess a $10 tax on moving a factory-built home on any municipal roadway in the county, excluding tribal lands, excluding sold homes moving from a dealer’s lot and modular homes. It would also be a way to locate all the homes in the county to collect property taxes for the estimated thousands that have not paid taxes, likely equaling thousands of dollars in county revenues. County records say there are 5,166 manufactured homes registered and an estimated 4,532 without registration.

(Photo credit: Jeff Tucker/riograndesun—Rio Arriba NM)

Modular Classrooms Still Useful

November 1st, 2012 Comments off

Parents in the Santa Ynez Valley north of Santa Barbara, California are objecting to a ballot initiative to raise taxes to fund a school board bond that would demolish 19 modular classrooms purchased between 1996 and 2008. The parents have asked for a town hall meeting to discuss the issue, but the school officials allegedly have refused. According to the letter from the parents published in SYVNews, the group says the modular buildings are still in good shape, meet current building codes, plus the school recently spent thousands of dollars to repaint them. MHProNews has learned the parents are asking for more transparency in the education budget and better use of available monies instead of increasing taxes.

(Photo credit: PRWeb–modular classroom by Icon Construction)

Fed Lending Reforms due Soon

July 9th, 2012 Comments off

azstarnet reports the two major mortgage market overseers in the federal government are trying to convince private lenders to ease up on lending restrictions that have become tighter than those required by Fannie Mae and Freddie Mac, which are under the jurisdiction of the Federal Housing Finance Agency, and the Federal Housing Administration (FHA), which administers low-cost loans. Saying a minor infraction in documentation can conceivably cost hundreds of thousands of dollars, lenders have adopted “overlay” rules adding extra fees, larger down payments , and requiring higher credit scores than the GSEs require. In addition, loan originators are unsure of the effect of upcoming Dodd-Frank regulations, and do not want to be charged with underwriting deficiencies after 2-3 years of a loan that has been on time. MHProNews.com has learned FHFA and FHA are expected to announce reforms soon.

(Image credit: Federal Housing Administration)

Doing Time for Doing the Crime

March 8th, 2012 Comments off

To follow-up on a story we published Nov. 07, 2011, The T&D tells MHProNews.com a man from Neeses, South Carolina, was sentenced to eight years in prison after pleading guilty to six counts of breach of trust for taking money for manufactured homes never delivered. If rom Colter was arrested last Nov. after allegations began emerging in the summer of his fraudulent behavior. 18 known people gave him money for MH and received nothing in return. During the hearing Colter offered to make restitution in exchange for probation, but Circuit Court Judge Ed Dickson noted the four months the Orangeburg County man has been in jail he has not offered to repay anyone. First Circuit assistant solicitor Ted Lupton said restitution would run into the hundreds of thousands of dollars, and it is unrealistic to think he would repay the money within the five years state law requires. “You can’t get blood out of a turnip but you can lock up the turnip,” Lupton said. One woman who lost money said Colter gave her a phony name.

(Photo credit: TheTandD)