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Newspaper
Amarillo Globe
Location
Amarillo, Texas, United States of America
Date
Aug 08, 1934
Page
12
The Amarillo Globe explains FHA loans for property improvements. Prospective borrowers should obtain a cost estimate from a contractor and apply via a bank or approved financial institution. Loans emphasize sound structures and repayable in installments within three years.
In a Washington series, James A. Moffett explains FHA aims to insure lenders against 100 percent of losses up to 20 percent of total credits for property repairs. Banks, savings institutions, and similar lenders will supply loans, with borrowers repaying over time. no direct government lending. The program seeks widespread repairs, job creation, and higher property values without regimentation or coercion.
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