Posts Tagged ‘housing’

Redevelopment underway in Delta of low-income housing

YAZOO CITY — Construction has begun on the redevelopment of Magnolia Crossing, an 86-unit housing development of single-family homes and duplexes for low-income families in Yazoo City. The Federal Home Loan Bank of Dallas (FHLB Dallas) and Bank of Yazoo provided Magnolia Crossing a $460,000 Affordable Housing Program (AHP) grant to assist with the renovations. […] [...]

Court ruling on Section 42 leaves taxpayers on hook for tax repayments

JACKSON — While some 14 Mississippi counties owe Section 42 housing developers millions in over-charged taxes, Hinds County’s taxpayers are not exposed to such refunds as the tax assessor has levied assessments according to the state law. Tax Assessor Charles Stokes said Hinds County taxpayers can rest assured his office has calculated property taxes appropriately. […] [...]

Report: State ranks third in U.S. in negative-equity homes

IRVINE, Calif — CoreLogic has released new analysis showing more than 300,000 homes returned to positive equity in the first quarter of 2014, bringing the total number of mortgaged residential properties with equity to more than 43 million. The CoreLogic analysis indicates that approximately 6.3 million homes, or 12.7 percent of all residential properties with […] [...]

Ex-Delta housing authority leader’s conviction upheld

GREENVILLE — A federal appeals court has upheld the conviction of a former executive director of the South Delta Regional Housing Authority and her 32-month prison sentence. The ruling was issued yesterday by a three-judge panel of the 5th U.S. Circuit Court of Appeals in New Orleans. Ann Jefferson was convicted in 2012 in federal […] [...]

Ground broken for apartments serving disabled, homeless veterans

BILOXI — Officials have broken ground on an apartment complex in Biloxi that will serve disabled, homeless veterans. HomePort II, the second phase of a project completed on the same site in December 2012, will have a total of six units to house disabled, homeless veterans. Representatives from the Federal Home Loan Bank of Dallas […] [...]

Average US 30-year mortgage rate slips to 4.28 pct

by Published: March 6,2014

Tags: Business, homes, housing, Mississippi, real estate

WASHINGTON — Average U.S. rates on fixed mortgages fell after three weeks of rises, edging closer to historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan declined to 4.28 percent from 4.37 percent last week. The average for the 15-year mortgage fell to 3.32 percent from 3.39 […] [...]

Supervisors call meeting to discuss Section 42 housing tax dispute

MCCOMB — Pike County supervisors want to meet with owners of Section 42 housing to settle a tax dispute that could cost the county thousands of dollars. Section 42 is housing, low-income apartment complexes whose developers get tax credits for building them. For years counties factored in the tax credits when calculating the apartments’ income […] [...]

FNC staff preparing for first ‘The Forge’ hackathon

OXFORD — FNC Inc. employees will literally work around the clock one day next month. Software developers at the Oxford-based mortgage technology company will participate in FNC’s first-ever 23-hour innovation challenge, a hackathon dubbed “The Forge.” Beginning at 3 p.m. on Dec. 19, teams of one to three employees will face off in a battle […] [...]

FNC: Home prices show ‘strong growth’ during third quarter

OXFORD — The latest FNC Residential Price Index (RPI) shows strong growth of home prices during the third quarter of 2013 as the housing recovery continues to broaden across the country. The index, constructed to gauge the price movement among the underlying non-distressed home sales, increased 2.5 percent between the second and third quarters, making […] [...]

Section 42 ruling to impact tax collections on Coast

MISSISSIPPI GULF COAST — A recent state Supreme Court ruling is expected to cost Coast counties, cities and schools more than $6 million in tax revenue. That’s according to Mississippi Coast tax assessors. The ruling pertains to how counties calculate the value of Section 42 or federally subsidized tax-credit housing for tax purposes. The Sun […] [...]

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