Los Angeles Times (10/09/08); McGreevy, Patrick
On the November ballot, California voters will be asked to borrow $900 million to extend discounted mortgages for those who served in the armed forces. The proposition, which would allow about 3,600 veterans to purchase affordable housing, was put on the ballot by unanimous votes of the state Assembly and Senate and a signature from Gov. Arnold Schwarzenegger. Nearly $102 million remains from previous bonds--proceeds from which are tapped by the CalVet program to buy mobile homes, houses and farms that are resold to veterans--but demand for those funds is projected to increase as the war in Iraq winds down. A key selling point is that the new bonds are to be repaid by the veterans via their monthly mortgage payments.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment