Where does it end? If HUD has the authority to enter into any matter based on the fact that it now claims to represent 3,190 public housing agencies -- a "representation" accomplished without an election -- then what about other federal departments? Can the Agriculture Department -- which could claim to "represent" our declining population of farmers -- become involved with steel imports? Will the Department of Labor -- which no doubt "represents" those who work -- claim jurisdiction over logging practices?

The issue here is not whether you like or do not like guns, or whether the National Rifle Association is your favorite organization or the one you would most like to close down. The issue is whether an agency allegedly devoted to housing concerns -- the way most normal human beings understand the term "housing" -- has strayed far off field.

HUD ought to be funding public housing and helping folks get mortgages. The $15 million spent to buy back guns could also have been used as a 5 percent down payment to purchase homes worth $300 million -- enough housing to shelter several thousand families.

HUD is off base in its latest non-housing efforts. Even the Department's own general counsel, Gail Laster, has testified on Capitol Hill that HUD has no authority to bring litigation against gun manufacturers, according to The Washington Post (See: "Gunmakers Up In Arms Over HUD Plan," December 9, 1999).

Here's a quaint idea: How about a new federal agency that does nothing but handle housing concerns? Such an agency could include the existing FHA program and a few others. Once such an agency is created, HUD could be closed down and the billions in excess tax dollars it now consumes could be used for something productive, say housing grants and mortgage assistance.

The Common-Sense Mortgage

The latest edition of The Common-Sense Mortgage is now available in bookstores online and off. In print for nearly 15 years and widely recognized as the standard consumer guide to real estate financing, previous editions have been described as "virtually in a class by itself" (The Philadephia Inquirer) and as "one of the best available guidebooks to the realty financing jungle," (The Los Angeles Times).

Whether financing or re-financing, whether you're a borrower, broker, or loan officer, this money saving, easy-to-read and well-organized guide is a necessity for anyone in the real estate marketplace. For additional information, press here.

Question Of The Week

Q: Can a broker list a home without first visiting the property?

A: I guess, in theory, the answer is "yes," but this seems like an awfully bad idea.

A listing agreement outlines such matters as the price at which a property may be offered for sale, a required down payment, items that convey with the property, and the fee to which the broker will be entitled if the home is sold.

But how can one set a market price for a property without seeing it? Yes, one could look at like properties or recent sales, but all homes are unique. There may be qualities with a particular property which make it more valuable than most (or maybe less valuable), qualities which must be seen to be understood and evaluated.

Weekly Resource