Word: fha
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...Government commit itself to keep HOP going through the end of the century at first-year levels or higher. That would imply an outlay of perhaps more than $36 billion in additional federal cash alone over the next twelve years. Less costly proposals would ease the terms on which FHA mortgages are made available to home buyers. Prospects for immediate action are dim. Under terms of the budget compromise reached last fall between the White House and Congress, an extra $3.4 billion for housing would have to be taken out of some other type of domestic spending, a prospect...
...road mileage. According to Federal Highway Administration figures, while only 30% of the pavement on urban Interstates was in good or very good condition in 1982, that figure had risen to 35% in 1985. "The rate of deterioration has been halted," says Joseph Rhodes, special assistant to the FHA administrator. "These conditions didn't arise overnight and they won't be corrected overnight...
...daughters were born while we lived in that little house -- one was nine years old and the other three when we moved into our modest FHA-financed home. The intervening years were good because we loved the work of clearing those rolling hills and turning red clay into beautiful green pastures and fields -- grabbing up roots and stumps and hauling off endless rocks. It should have mattered that we never had any money at the end of the year, but we always felt the promise and the hope of a better year next year. I worked off the farm...
Created in 1934 to ensure that people of modest means could obtain home mortgages, the FHA has provided mortgage insurance to 50 million homeowners who might otherwise have been unable to buy houses. Critics of the Administration plan feared that if private companies took over the functions of the FHA, they might set tougher standards for mortgage insurance and exclude more people from home ownership. Disposing of the FHA, said Warren Lasko, executive vice president of the Mortgage Bankers Association of America, would be tantamount "to selling the American home buyer down the river...
Despite the opposition, the Administration is continuing to study the possibility of selling the FHA and spinning off many other Government operations. The President's Private Sector Survey on Cost Control concluded in 1984 that privatization could save the Government $28.4 billion over a three- year period. The Heritage Foundation, a conservative research group, has drawn up a privatization plan that its authors claim would cut the federal deficit by $10.8 billion by 1987. It includes selling the Washington airports and the FHA and contracting out some Postal Service activities...