Elderly Housing a Slow Mover FHA Faces 15M Losses
Washington reports the FHA holds more than 15 million dollars in retirement housing projects failing to meet mortgage payments. Most ventures were nonprofit. locations and overambition led to vacancies and delayed occupancy. FHA seeks new buyers while managing struggling communities and foreclosures. The Pascagoula project illustrates a stalled dream becoming a financial hit, with sale prospects around 2 million and FHA absorbing losses.
MENTIONED IN THIS ARTICLE
Washington
Nana
Sam
America
FHA
Federal Housing Administration
Uncle Sam
Tony Grezzo
Heaven
Ole Miss
Pascagoula
Miss
Multi-Unit Retirement Housing for Rural Areas
The USDA bulletin outlines floor plans and design ideas for comfortable safe retirement homes in rural areas. Prepared by W Russell Parker it targets architects builders and retirees with 1 and 2 bedroom units and options for multi unit developments. A free copy is available by postcard request from the USDA Information Office Washington DC. Young marrieds are buying homes earlier due to smaller down payments lower monthly installments and higher starting salaries for college graduates per Building Magazine.
MENTIONED IN THIS ARTICLE
U.S. Department of Agriculture
W. Russell Parker
USDA
Agricultural Research Service
Office of Information
Washington, D.C
Building Magazine
First GI Cold War Mortgage Issued to Former Navy Man
The Berkshire County Savings Bank issued the first Cold War veteran mortgage for Floyd M. McGurt of Peru, buying a Dal ton home at 36 Evelyn Drive. The Federal Housing Act of 1965 extends insured loans to post Korean War veterans with government backed financing up to 30,000 dollars, and provides 100 percent insured for the first 15,100, 90 percent for amounts above 15,000 to 26,000, and 85 percent above 20,000 up to 30,000. Service requirements include 90 active days in the U S Navy and honorable discharge. McGurt’s record shows four active duties ending March 19, 1962.
MENTIONED IN THIS ARTICLE
Aaltchell
Berkshire County Savings Bank
Floyd M. McGurt
Penn
Irving Goodman
Tigood Realty Agency
Robert Wells
Mr. McGurt
Dalton
Peru
Evelyn Drive
Johnson
U.S. Navy
Germany
Africa
McGurt
Goodrich Firm Named Authorized Formica Installer
C. M. Goodrich & Son Inc at 366 Merrill Road is an authorized installer of Formica vertical interior paneling for commercial building interiors. The appointment by Formica Corp of Cincinnati, Ohio, supports a nationwide marketing program. Owner Kinsley M. Goodrich, who founded the firm in 1931.
MENTIONED IN THIS ARTICLE
C. M. Goodrich & Son, Inc
Merrill, Rd
Formica
Formica Corp
Cincinnati
Ohio
Kinsley M. Goodrich
Needs of Youth Shape the Home Buyer's Choice
A Dallas observer notes that modern buyers prioritize education proximity and child comfort when purchasing homes. Remodeling, attic or basement finishing, and fiberboard ceiling tiles ease upgrades for families raising kids. Tenants labeled swingable by a national housing magazine drive landlords with low rents and amenities.
MENTIONED IN THIS ARTICLE
Gatewood
Also Mentioned on This Page
By Oscar A. Door
Dd Sa
W. H. Shedd & Son
Tyler Street
Carr Supply CO
Berkshire
Armstrong
Berkshire County
Dettinger Lumber CO. Inc
Warren Terrace
South St. Opp
Spadina Parkway
Young Homeowners
Navy
Veterans Administration
Goodrich Firm
Wes Gatewood
Allied Chemical Corp
Theettre
Hilds & Bishop
North Street
Wil
ODL
Berkshire Oil Heat Council Inc
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