First, it is not a mortgage insurance program it is a mortgage guarantee program. They are very different programs.
Second, I am confused as to why there was a resolution at all at this time. There is no program for them to vote for or against and there are no funds yet appropriated. Here is the actual language from the NRP Policy Board meeting from February 24, 2003 BE IT RESOLVED: That the NRP staff and Director, in conjunction with local lenders, banks, mortgage insurance companies and realtor organizations, develop guidelines and procedures to be approved by the NRP Policy Board for a pilot program to implement a "renters to owners" initiative. BE IT RESOLVED FURTHER: That the NRP set aside $2,000,000 of the 2002 $4,000,000 (four million dollars) affordable housing reserve to fund this new initiative. BE IT RESOLVED FURTHER: That these funds shall be made available only after approval of the program guidelines by the Policy Baord and the transfer of the 2003 NRP allocation of $11,000,000 from the City to the NRP program fund. NRP Policy requires a 45 day comment and review period. WHEN actual program guidelines exist for this initiative, they will be sent to the neighborhoods for input. After that point, they will be considered for adoption by the NRP Policy Board. I hope if we are going to debate this initiative it will be with REAL facts and REAL information and not bits and peices of what you think you know and knee jerk reactions. Quite frankly, at this time, this intiative is only a concept. The guidelines or the meat of this program are still under development. Barb Lickness NRP Staff ===== "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it's the only thing that ever has." -- Margaret Mead __________________________________________________ Do you Yahoo!? Yahoo! Platinum - Watch CBS' NCAA March Madness, live on your desktop! http://platinum.yahoo.com TEMPORARY REMINDER: 1. Send all posts in plain-text format. 2. Cut as much of the post you're responding to as possible. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
