Roof Collapses In Pollock Pines

Dorado County firefighters are blaming a mixture of heavy snow and persistent rain for two commercial roof collapses in Pollock Pines Saturday.

Battalion Chief Kurt Taylor said the first roof collapse occured at the Pollock Pines True Value Hardware Store at 10:30 am. The second collapse happened at the Knotty Pine Lanes bowling alley just before midnight.

No injuries were reported at either incident.

Taylor said heavy snow loads can actually be more dangerous when it rains.

Taylor said, "There was already several feet of snow on these roofs. It acts like a sponge and the rain mixes with the snow and multiplies the weight on the roof."

County fire officials are urging residents to monitor their roofs as snow accumulates and to contact their local fire station with any questions.

"With the amount of snow we've got over the last couple of weeks and now rain coming down on top of it, people will have to check that and take action," Taylor said.

County building inspectors will spend Sunday assessing the damages to both businesses.

HUD Report

The DuPage Housing Authority had another federal audit come back this week, this one possibly the most unflattering picture yet of the beleaguered low-income assistance agency.

The latest U.S. Housing and Urban Development assessment of the authority’s books proves no less damning than the two that recently came to light, triggering a call for increased oversight muscle at the county level.

The last of three audits completed by the federal agency, issued Wednesday, found continued mishandling by the DHA of the federal Section 8 voucher program through fiscal 2010.

Early last month, federal authoriites notified Page County officials who oversee the housing assistance organization of two reviews done in the past two years that uncovered numerous instances of poor bookkeeping and insufficient documention that, at that point, had accrued some $10.7 million in undue payments to a variety of entities that allocate the funds.

The third audit similarly concluded that the agency neglected to keep up records demonstrating the its projects were eligible to participate in the housing-subsidy program, charged the program’s patrons improper sums, and misspent some of the program money on purchases that are not permitted, including cocktails and holiday gifts and laptop computers for DHA board members.

Today’s Lowest FHA Mortgage Rates

Over the last several years many Americans have looked to save money by locking into today’s lowest FHA mortgage rates. It is very important to understand that FHA mortgage rates are very close to all-time lows but it is the case that an FHA mortgage comes with insurance obligations. Some of the largest mortgage lenders in the country that are offering low FHA rates include Bank of America and Countrywide as well as Wachovia and Wells Fargo.

It is important to note that Wells Fargo gobbled up Wachovia during the credit crisis and Bank of America did the same thing with Countrywide. With that being said two of the largest financial institutions in the nation are now Bank of America and Wells Fargo but remember they are not the only options when it comes to locking in low rates.

As we get deeper into 2011 many analysts have predicted that interest rates are likely to move up due to the fact that the 10 year treasury rate yield will increase with an improved economy. The 10 year treasury rate yield and 30 year fixed mortgage have had a very strong correlation since 1971 and this is not likely to change in the near future as the 10 year yield often dictates interest rates.

With this in mind it may be a very wise decision to take advantage of the low interest rates while they are available. But doing research online most will find that there are local, regional and national mortgage lenders that can help when it comes to refinancing home loan.

By accessing the HUD website Americans will better understand what options are available when it comes to reducing costs and fees on a home loan. Remember that these costs and fees can often be negotiated much lower so it is always advisable to understand each and every step of the mortgage refinance process.