European Stars and Stripes (Newspaper) - November 26, 1990, Darmstadt, Hesse                                Page 6 a a a the stars and stripes monday november 26,1990 Lawill Likely need $2.5 billion to cover sour Loans Gao says by the Washington Post Washington a the department of veterans affairs Wilt need $2.5 billion in congressional appropriations Over the next few years just to cover the bad Loans in its housing programs according to a new government prediction. Congress has already spent $2.3 billion to cover losses during the four years ending in 1989, the general accounting office said in its report. But the report makes it Clear that the worst May not be Over. Housing downturns since the Early 1980s, particularly in Oil dependent states of the West and Southwest have led to widespread foreclosures on veterans Homes that will necessitate the new funding. Losses predicted by the Agency will occur As a portion of the 3,9 million Home Loans now backed by the government go into default. The Agency based its estimate of How Many Loans would go sour on the types of mortgages it has insured its experience with defaults and economic conditions in the nation said Dennis Duquette the Gao a civil audits director. The Gao did not estimate the exact number of years Over which the losses will be spread but most veterans who default on their mortgages do so in the second through fifth years after buying their Homes Duquette said. Most veterans pay some fees when they get a govern ment guaranteed loan under the program which was created by Congress in 1944 to help returning world War ii veterans make a new Start As civilians. Although the program was not designed to break even or make a profit it was not expected to be a massive Money loser. Under recent legislation a Home buying Veteran will pay a fee ranging from nothing to 1.875 percent of the loan amount which depends on the size of the Down payment. This is a change from the 1 percent fee once charged All veterans. The fee paid by the veterans along with a fee of one half of 1 percent fee from the government goes into the guarantee and indemnity fund also created by the Law to help cover losses from Loans issued after last Jan. 1. Additional reforms Are being proposed by some members of Congress including sen. Barbara a. Mikulski d-md., chairwoman of the a housing and Urban development and Independent agencies subcommittee under the Senate appropriations committee. An aide said last week that Mikulski believes the a needs More employees to oversee loan operations. At the end of fiscal 1989, the Loans being backed by the a had a total face value of $152 billion with the government guaranteeing $60 billion of that amount according to the Gao. Stateside colonial town employees offered Early retirement Williamsburg a. A the colonial Williamsburg foundation is trying to entice hundreds of employees to retire Early to ease the Impact of a 10 percent drop in visitors this year. In 1934, the historic town was restored to its 18th-Century appearance and is now regarded As one of the top tourist attractions in the United states. Colonial Williamsburg officials said that Early retirement will be offered to 360 employees about 8.6 percent of its total work Force of4,200. The Early retirement program will not forestall the usual seasonal layoffs in january and february the off season at the restored colonial capital of Virginia officials said. The incentive was offered to management As Well As unionized and non unionized employees. Colonial Williamsburg spokesman Albert louer said savings from the plan should be about $1 million. The plan has been offered to employees who Are at least 55 years old and have at least 10 years of service with the non profit foundation. Eligible employees have until dec. 19 to decide whether to join. Among the incentives for Early retirement Are a boost in pension benefits and continuation of health and life insurance until the Retiree reaches 65.quake-prone town rattled by Media horde St. Louis apr despite a controversial projection about a massive Midwest earthquake some residents along the new Madrid fault Are More worried about getting knocked Down by a to truck than a temblor in Early december. A a we be got reporters running out our cars Quot new Madrid police chief Jim Helms said. A a they be been Here from Washington Michigan Kansas City Oklahoma and As far South As Houston Texas. We be had them every  new Madrid a town of about 3,300 in Southeastern Missouri has become earthquake Central for much of the Media zeroing in on Iben Brownings projection and the anxiety in the Region. Browning is the new Mexico scientist business consultant who says his research shows conditions will be right for a major earthquake along the new Madrid pronounced mad rid fault on or about dec. 3. He has projected a 50-50 Chance of a quake striking. He based his projections on tidal forces which will be particularly Strong at that time. Most scientists discount his tidal theory but say that eventually there will be a powerful earthquake along the fault. Brownings projection nevertheless has led school officials in at least four states to Call off classes. It also has renewed attention to earthquake preparedness in a Region that experiences several Hundred minor to not even Felt tremors a year. The new Madrid fault zone runs roughly from marked tree in Northeast Arkansas across the Missouri Boot Heel and up to Cairo in Southern Illinois. Its named for new Madrid which was destroyed by a series of Strong quakes in the Early 1800s that were Felt a the Way to the East coast. Since reports of Brownings work came to Light earlier this year the Media have focused increasing attention on the fault zone. Television stations from throughout the Region have done ratings month series on the projection the fault zone and earthquake preparedness. Reporters have descended from Detroit Minneapolis and Baltimore As Well As Tampa Fla people Magazine and the to program a unsolved mysteries also have been to town. Although new Madrid residents have become used to being interviewed the town is bracing for monday dec. 3, when the reporters photographers engineers and producers Are expected Backen Masse. Rumours Are flying Dan rather will be Here Willard Scott is coming. Motel rooms have been snatched up interviews arranged. Mayor Dick Phillips is understanding. Hell have to work As usual at Phillips fertilizer co. On dec. 3 and then conduct a City Council meeting that evening but hell also try to be available for interviews. A a we re going mainly expecting nothing to happen a said Susan okie acting science editor at the Washington Post. A this is a Story because of the excitement its  reporters wont be the Only ones travelling to new Madrid. Two St. Louis Rock in Roll radio stations have arranged to broadcast their morning shows live a one from the new Madrid historical museum the other from the shake rattle and Roll party that is planned at a nearby  fixes glitch that interrupted Magellan s mapping of Venus Pasadena Calif. Apr engineers corrected a ground control computer error that halted the Magellan spacecrafts mapping of Venus Nasa officials said saturday. A everything is Fine a said Bob Macmillan spokesman for the National aeronautics and space administrations Jet propulsion Laboratory. The problem was corrected about 8 . Saturday 2vi hours before the Start of the next mapping Cycle. A it was a rather minor disconnect last night because of some command errors transmitted from the ground. The spacecraft did no to recognize a series of com mands and decided to put itself in a Safe position a Macmillan said a it did not break communications the Way it did in August it just reduced its information rate. It sent Back slow signals but no mapping  it was the second report of problems with Magellan a mapping Mission in eight Days. The Magellan signal was lost for 40 minutes nov. 15. Signals were lost twice in August. Magellan was launched from the space shuttle Atlantis on May 4, 1989. It went into orbit around Venus on aug. 10 and formally started its $744 million mapping Mission sept. 15.dueling Tattoo shops draw business into Maine town Skowhegan Maine a a pair of competing Tattoo Parlours is giving this Rural Maine towns local business scene a shot in the . Both businesses began within the last two months and despite the regions sluggish Economy both report a booming demand for body Art. A customers Are coming out of the Woodwork now a said 43-year-old Roy Whitney who opened Whitney a creative tattoos in an old key shop. Part of the reason business is brisk May be the fact that tattooing is illegal in new York new Jersey and Massachusetts he said. Richie slamm 53, who operates mithras tattoos boasts 97 tattoos of his own. Slamm Learned Bis Trade at new Yorkus Coney Island during the 1950$ when the process was still Legal doing his first Tattoo when he was 12. Although they re business rivals Whitney who wears 20 tattoos and slamm have artistic respect for each other. Slamm is working on a Jungle scene that will eventually cover Whitney a Back. Quot