Travis County Commissioners Court
December 6, 2011 (Agenda)
Housing Finance Corporation
>> > good afternoon.
let's call to order the Travis County housing finance corporation.
two items, number 1, consider and take appropriate action to authorize a release of lien for a first-time home buyer that partially repaid a loan executed on June 22, 2006.
>> good afternoon, andrey shields, corporation's manager.
this first item is just requesting your approval to release a lien for a home buyer that we provided downpayment assistance to, and since she has been in the home for less than ten years, she's looking to refinance and a stipulation of the loan was she pay back half of the original loan amount.
the original loan amount was $1,600 and we received a check last week for $800 from her title company so we're just looking for approval on the lien release.
>> so are we releasing the whole lien or --
>> we were the third lienholder so we're releasing our portion and tdhca holds the first two liens and they've been paid and they've signed off on their lien release as well.
>> move approval.
>> second.
>> so our lien is $800.
>> well, $1,600 was the amount of the original loan we provided.
but there's a stipulation in the -- in the loan that if she is looking to refinance or move and she hasn't stayed in the house for more than ten years, she's got to repay that half of the original amount.
>> okay.
any more discussion?
all in favor?
that passes by unanimous vote.
number 2, consider and take appropriate action to approve release of lien and b, reimbursement payment to the Texas department of housing and community affairs for repayment of home project loan number 36662000-24.
>> this is the same idea.
we're also looking for approval of release of liens.
the loan amount on this particular homeowner was $2,000 and that was provided to the corporation from tdhca throw home funds.
we've received a 2,000-dollar check from the homeowner which upon approval we would turn around and reimburse to the state.
>> move approval of a and b.
>> if we didn't send that money to the state, you think they would miss it?
>> [laughter]
>> no.
>> we ought to try that in 2012 just to see what happens.
>> noted.
>> all in favor?
that passes by unanimous vote.
>> move we adjourn.
>> second.
>> all in favor?
that carries unanimously.
>> thank you.
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