House targets mandatory inspections
|August 27, 2002|
Study would concentrate on holes in consumer protection safety net
Inman News Features
A member of the U.S. House of Representatives has formally requested a General Accounting Office study to quantify the costs and benefits of mandatory home inspections in federal home loan programs.
Congressman Douglas Bereuter (R-Neb.), a member of the financial services committee and the subcommittee on housing, issued the request in an August letter to Comptroller General David Walker.
"Some in Congress have become increasingly troubled that FHA programs are devoid of requirements that inform home buyers of the technical details of their purchases. This represents a significant hole in America's consumer protection safety net," said Rob Paterkiewicz, executive director of American Society of Home Inspectors.
Several areas targeted for investigation under Bereuter's request include identifying:
-- The extent to which increased use of independent home inspections could protect the financial interests of consumers, to which the cost of home inspections would influence home buying decisions and how cost issues could be mitigated through FHA financing changes.
Copyright: Inman News Service