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BUSINESS
By Daniel H. Barkin and Daniel H. Barkin,SUN STAFF | February 4, 1996
Until recently, the aged, 757-unit Valley Brook apartment complex in Glen Burnie was a leading candidate for the wrecking ball.Built in the 1960s between Baltimore and Annapolis, the 26 buildings had turned into a housing disaster by last year, when it was taken over by a Boston-based firm specializing in troubled properties."
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BUSINESS
By Steve Kilar, The Baltimore Sun | December 31, 2012
Federal officials have extended a regulatory waiver that makes it easier to "flip" properties - a move meant to encourage the renovation of foreclosed homes but that critics say could herald the return of predatory schemes. The Federal Housing Administration has waived through 2014 an anti-flipping regulation, which had prevented the agency from insuring mortgages on properties sold within 90 days of acquisition. The waiver, first implemented in 2010 to bolster the flagging housing market, is intended to enable investors to buy and quickly rehab properties as the market continues to struggle.
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NEWS
By New York Times News Service | December 14, 1994
WASHINGTON -- Federal officials say that President Clinton probably will ask Congress to replace the federal agency that provides mortgage insurance to millions of home buyers with a new government-controlled corporation that operates more like a private business.The agency, the Federal Housing Administration, was created 60 years ago to help combat the effects of the Depression. It has provided mortgage insurance for more than 51 million home buyers, enabling many of them to get mortgages they could not otherwise obtain.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | May 4, 2012
William J. Schmidt, a former department store buyer who later became director of administration for the Housing Authority of Baltimore City, died Monday at his Bel Air home of complications from Parkinson's disease. He was 79. The son of a Baltimore Gas and Electric Co. actuary and a homemaker, William Joseph Schmidt was born in Baltimore and raised on Aisquith Street. He was a 1951 graduate of Mount St. Joseph High School in Irvington and earned a bachelor's degree in 1955 in business administration from what is now Loyola University Maryland.
NEWS
By John B. O'Donnell and John B. O'Donnell,SUN STAFF | March 30, 2000
Responding to complaints that federal housing policies have "resulted in tremendous damage" to Baltimore neighborhoods, U.S. Housing Secretary Andrew M. Cuomo told city nonprofit agencies yesterday that he would be willing to halt Federal Housing Administration foreclosures in the Belair-Edison area for eight weeks, an aide to Sen. Barbara A. Mikulski and participants in the meeting said. They said Cuomo also agreed to formation of a federally led Baltimore task force that would "find a solution to flipping, predatory lending and FHA disposal" of houses the agency acquires through foreclosures, said Johanna Ramos-Boyer, Mikulski's press secretary.
BUSINESS
By Kevin G. Hall and Kevin G. Hall,McClatchy-Tribune | April 3, 2008
WASHINGTON -- Senate leaders unveiled yesterday bipartisan legislation that would provide funds for mortgage counseling, tax incentives for homebuyers willing to purchase foreclosed or newly built homes and aid to states struggling with rising foreclosure rates. "We helped Wall Street, we're all glad Bear Stearns was taken care of, but now it's our turn to take care of people on Main Street," Senate Majority Leader Harry Reid of Nevada said yesterday evening on the Senate floor. The Foreclosure Prevention Act is a follow-up to February's economic stimulus plan, which is intended to spark the sagging economy.
NEWS
By JoAnna Daemmrich | March 3, 1996
PUBLIC ADMINISTRATORS tend to abide by the same standard: They should be competent but not flashy, loyal but not overtly political, articulate but not argumentative. And they should never get more publicity than their boss.But Dan Henson is a man who likes to break the rules.From the moment he took the job, Baltimore's housing chief has commanded constant attention, intriguing critics and supporters alike, rivaling the mayor in creating headlines. He's been at the center of one controversy after the next.
BUSINESS
By KENNETH HARNEY | June 3, 2006
Clarification In a recent column on legislation to expand Federal Housing Administration mortgages to more potential homebuyers, the maximum mortgage amount under the bill would be the median home price for any metropolitan area, but not to exceed the Fannie Mae-Freddie Mac limit, which is adjusted annually. The current limit is $417,000. An unusual Capitol Hill alliance of liberal Democrats, conservative Republicans, commercial banks, real estate brokers, ethnic group lobbies, homebuilders and mortgage brokers is pushing for legislation that could give thousands of first-time home purchasers a better deal than they get in the mortgage market today.
NEWS
March 4, 2001
Sylvia Harad, 79, travel agency partner Sylvia Harad, a partner in an Owings Mills travel agency, died Wednesday of cancer at Gilchrist Center for Hospice Care in Towson. She was 79. Mrs. Harad, who had more than 30 years' experience in the travel field, was a partner in Premier Tours and specialized in arranging trips for churches, universities and corporations. She retired from active participation in the business last year because of failing health. Born Sylvia Rogol in Philadelphia, she was raised in Camden, N.J., where she graduated from high school.
BUSINESS
By KENNETH HARNEY | December 17, 2000
Congress has now passed its major housing bill for 2000, loaded with mortgage and financial assistance for select beneficiaries -from Native American and Native Hawaiian homebuyers to the elderly and disabled. It even provided generous end-of-the-year pay raises to the governors of the Federal Reserve Board. But there was no holiday homebuying cheer for hundreds of thousands of modest-income teachers, firefighters, police officers and other local public workers who'd been in line for a new, low down-payment federal mortgage plan.
BUSINESS
By Kevin G. Hall and Kevin G. Hall,McClatchy-Tribune | April 3, 2008
WASHINGTON -- Senate leaders unveiled yesterday bipartisan legislation that would provide funds for mortgage counseling, tax incentives for homebuyers willing to purchase foreclosed or newly built homes and aid to states struggling with rising foreclosure rates. "We helped Wall Street, we're all glad Bear Stearns was taken care of, but now it's our turn to take care of people on Main Street," Senate Majority Leader Harry Reid of Nevada said yesterday evening on the Senate floor. The Foreclosure Prevention Act is a follow-up to February's economic stimulus plan, which is intended to spark the sagging economy.
BUSINESS
By KENNETH HARNEY | June 3, 2006
Clarification In a recent column on legislation to expand Federal Housing Administration mortgages to more potential homebuyers, the maximum mortgage amount under the bill would be the median home price for any metropolitan area, but not to exceed the Fannie Mae-Freddie Mac limit, which is adjusted annually. The current limit is $417,000. An unusual Capitol Hill alliance of liberal Democrats, conservative Republicans, commercial banks, real estate brokers, ethnic group lobbies, homebuilders and mortgage brokers is pushing for legislation that could give thousands of first-time home purchasers a better deal than they get in the mortgage market today.
BUSINESS
By KENNETH HARNEY | January 25, 2004
WHAT DO you say to zero down on your first home purchase? And how about rolling your closing fees into the mortgage itself, giving you a home loan that costs you virtually nothing out of pocket upfront? That intriguing offer could become a standard, government-backed option for an estimated 150,000 or more first-time home buyers if Congress approves a new "zero down" program to be proposed in President Bush's forthcoming federal budget. Zero down payment mortgages could go as high as $290,000 in high-cost markets on the East and West coasts.
NEWS
November 3, 2002
The Community Services Council of Carroll County has awarded the 2002 Sylvia Canon Humanitarian Award to Karen Blandford, administrator of the Westminster Office of Housing and Community Development. During the 15 years she has worked for the city, Blandford has established several shelters and worked with housing projects to benefit all ages. Projects she has worked on include community centers, recreational opportunities and the new Arts Council center. She is a founding member of Human Services Programs of Carroll County, has volunteered with United Way and the Maryland Housing Coalition, and has promoted programs to help the needy.
NEWS
March 4, 2001
Sylvia Harad, 79, travel agency partner Sylvia Harad, a partner in an Owings Mills travel agency, died Wednesday of cancer at Gilchrist Center for Hospice Care in Towson. She was 79. Mrs. Harad, who had more than 30 years' experience in the travel field, was a partner in Premier Tours and specialized in arranging trips for churches, universities and corporations. She retired from active participation in the business last year because of failing health. Born Sylvia Rogol in Philadelphia, she was raised in Camden, N.J., where she graduated from high school.
BUSINESS
By KENNETH HARNEY | December 17, 2000
Congress has now passed its major housing bill for 2000, loaded with mortgage and financial assistance for select beneficiaries -from Native American and Native Hawaiian homebuyers to the elderly and disabled. It even provided generous end-of-the-year pay raises to the governors of the Federal Reserve Board. But there was no holiday homebuying cheer for hundreds of thousands of modest-income teachers, firefighters, police officers and other local public workers who'd been in line for a new, low down-payment federal mortgage plan.
BUSINESS
By Kenneth R. Harney | October 18, 1998
FIRST-TIME homebuyers -- especially those with limited cash on hand -- are likely to be the primary beneficiaries of congressional legislation passed Oct. 8 that expands the reach of the federal government's largest mortgage program.Under the new legislation, the Federal Housing Administration (FHA) will be able to insure low-down-payment home loans as large as $197,621 in nearly three dozen "high cost" metropolitan areas across the country. FHA loans in most other markets will get a new upper limit of $109,032 -- up from the $86,317 limit currently in effect.
BUSINESS
By Kenneth R. Harney | August 23, 1998
THE 800,000 homebuyers who use the federal government's largest housing finance program every year appear to be on the verge of getting a level of consumer protection that other homebuyers lack: mandatory home inspections prior to purchase, with a three-day legal right to bail out of the deal.Under legislation heading for the House of Representatives, no one could buy a home more than 1 year old with a Federal Housing Administration (FHA) insured mortgage without first obtaining a detailed, professional inspection and report on the "physical structure and systems" of the property.
NEWS
By John B. O'Donnell and John B. O'Donnell,SUN STAFF | March 30, 2000
Responding to complaints that federal housing policies have "resulted in tremendous damage" to Baltimore neighborhoods, U.S. Housing Secretary Andrew M. Cuomo told city nonprofit agencies yesterday that he would be willing to halt Federal Housing Administration foreclosures in the Belair-Edison area for eight weeks, an aide to Sen. Barbara A. Mikulski and participants in the meeting said. They said Cuomo also agreed to formation of a federally led Baltimore task force that would "find a solution to flipping, predatory lending and FHA disposal" of houses the agency acquires through foreclosures, said Johanna Ramos-Boyer, Mikulski's press secretary.
BUSINESS
By Kenneth R. Harney | March 7, 1999
SHOULD the appraiser you pay $400 to value a house you're buying tell you its innermost secrets -- that there are multiple safety code violations, the furnace is shot and the basement is loaded with asbestos?The answer has provoked a heated debate that should interest anyone who's about to buy, sell or refinance.Lined up on one side are federal housing officials who have drafted an aggressive new, consumer-oriented standard for real estate appraisers valuing all homes financed with federal mortgage insurance.
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