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Beware of HOA Payment Plan! 
          
 1,425% Markup - Big Corporate Business for HOA Non-Judicial Foreclosures 
ON THE COMMONS with Shu Bartholomew – Dr. Evan McKenzie interview on Privatized HOA Governments & New Book

Billions for Home Builder Corporate Welfare from Washington 
 New York Times, by Gretchen Morgenson
 
* Read and Post Remarks in The Huffington Post 
American Banking News: Tax Breaks Worth Billions to Big Business
* Related Articles:  NY Times: Building Flawed American Dreams 
* Rise and Fall of Predatory Lending and Housing
* Builders rake in refunds * See Forbes Magazine Article
Pulte-Centex $900 MILLON Grant Questioned

Feds probe the KB Home Mirasol Fiasco
Tuesday, 11 March 2008

Feds launch inquiry into Mirasol Homes
The federal Office of the Inspector General has started a new inquiry into the Mirasol Homes public housing project.  This is the second probe in five years of the taxpayer-funded project owned by the San Antonio Housing Authority...Community activist George Alejos, a task force alternate who represents City Council District 5, said he has pushed for an independent look at itemized accounts for the $1.7 million already spent on Mirasol... According to information distributed to task force members, the OIG is requesting information in 15 specific areas

Feds launch inquiry into Mirasol Homes

Second probe of SAHA-owned public housing project in 5 years

 Ron Wilson

CNP-News San Antonio Bureau

The federal Office of the Inspector General has started a new inquiry into the Mirasol Homes public housing project.  This is the second probe in five years of the taxpayer-funded project owned by the San Antonio Housing Authority.

Whether this is merely an inquiry or a full investigation is not known.  Nor is it known what, or who, prompted the probe.

However, according to information distributed to Mirasol Task Force members by SAHA, federal investigators are looking at the management of SAHA's lease-purchase program, the  buyback program, and appraisals.

The Mirasol Task Force was convened May 9 as an 11-member group to find solutions to residents complaints about mold in their apartments and construction complaints.

Several members of the Mirasol Task Force said in the past they have sought an outside inquiry based on information that was uncovered since the task force began.

"I wish they would have done this a lot sooner," said task force member and Mirasol homeowner Randy Zaragoza.  "They led these people along with promises of an unsellable home."

Zaragoza's house has been undergoing repairs for months and is still not ready habitable.

Stephanie Battle, who sold her house back to SAHA, said she wasn't surprised about the inquiry because "there was a lot of stuff that came out of the task force" concerning construction, mold and lease purchase program irregularities.

Community activist George Alejos, a task force alternate who represents City Council District 5, said he has pushed for an independent look at itemized accounts for the $1.7 million already spent on Mirasol repairs.

According to information he received, Alejos said, the OIG expects the task force to provide a full and complete accounting.

"I'm not sure the task force has been getting that," Alejos said.

 When told of the inquiry, Janet Ahmad, a strong critic of KB Home, which built the houses, said, "It's about time."

If the city, state and SAHA had only done what was right from the beginning, Ahmad said, there would have been no need for the first, much less the second, inquiry.

Although some residents wanted Ahmad to sit on the task force in the beginning, and she fought to do so, she and residents have turned their backs on it now, she said

"I'm glad the task force denied the right of the people (to have me as their chosen representative). I'm glad they didn't allow me to sit on it. The task force has been a waste of time," she said.  Residents have told her, she said, they will no longer deal with the task force.

Alejos said he is further concerned about how the houses were marketed, the information on fliers distributed to neighbors and prospective homebuyers, etc.

The appraisals particularly are a sore point with Mirasol residents who complained loudly at Thursday's SAHA monthy board meeting.

 Under SAHA's buyback program, SAHA does an appraisal of the home and pays for a second appraisal if the homeowner desires one. 

The issue is whether the appraiser used SAHA-owned houses as comparables in the appraisal.

At Thursday's board meeting, several residents complained that the appraisals were lower than the evaluation placed on the house by the Bexar County Appraisal District. 

Homeowners' property taxes are based on their BCAD evaluation.

Residents said that SAHA doesn't complain about high BCAD evaluations when the houses are for sale, but does its own, lower, appraisal when it wants to buy the houses back.

According to information distributed to task force members, the OIG is requesting information in 15 specific areas.

1. Names of real estate brokers and all marketing done for the sale of all Mirasol homes.

2. List of Mirasol homes sold.

3. Appraisals for all Mirasol homes sold.

4. List of all Mirasol homes bought back by the SAHA.

5. What information is being provided to individuals regarding the home ownership opportunities.

6. All disclosure forms provided to Mirasol home buyers, original and re-sale. (Hard copies and electronic.)

7. List of all Mirasol Task Force members with contact information.

8. List of Task Force members who had their Mirasol homes bought back by the SAHA with contact information.

9. List of Mirasol homeowners who had their homes bought back by the SAHA with contact information.

10. SAHA rules and regulations regarding people who are given Section 8 vouchers once the SAHA buys back their Mirasol home.

11. Any rules and policies that state SAHA can place a Mirasol resident on the "Next Available" status on the Section 8 waiting list once their home is bought back.

12. Capital accumulation account agreement between the SAHA and every Mirasol tenant on the Lease Purchase program. (Capital accumulation accounts are money lease-purchase residents pay above their designated rent that can be spent only for a down payment on a house)

13. Capital accumulation account records for every Mirasol family.

14. List of Mirasol individuals who attended the home repair and preventative maintenance workshop provided by the SAHA.

15. Complete files for 10 families in lease-to-purchase program.  These families have appeared frequently before the task force or SAHA or City Council.

Questions? Comments? Email Ron Wilson

 
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