High Point Enterprise Newspaper Archives Mar 12 1939, Page 11

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High Point Enterprise (Newspaper) - March 12, 1939, High Point, North Carolina Sunday March 12, 1939 the High Point Enterprise a Mon Center of Industry High Point North Carolina Page eleven Sec. Bakelite plastics exhibited at worlds fair Eha operations do not include Money lending with residential building among the factors pacing the current recovery movement Fua officials consider it timely to review the procedure for Home buying and building under the insured mortgage plan credited by Many observers As the chief stimulus to the building upsurge. The Federal housing administration stresses the fact that it does not lend Money for the construction or improvement of Homes. The National housing act under which the Kha operates provides for government insurance of mortgages finance of which is furnished by w Ling institutions such As aka savings and loan associations Trust companies mortgage companies life insurance companies and similar organizations approved to act As mortgagees. When certain standards As to the Borrower construction neighbourhood etc., Are met. The Federal homing administration insures the Lender against loss on the mortgage. Prospective Home owners find the insured mortgage system of the Fua attractive not Only because it makes Home financing More easily obtainable but also because of the numerous protective measure it contains. The Cha will not insure a mortgage on a property located in a neighbourhood Likely to develop into an undesirable place to live in addition the property must he located with due consideration to the factors of transportation necessary utilities and other amenities. Persona contemplating buying or building a Home who May be unfamiliar with construction methods Welcome the ruling that require approval by the Cha of standards and methods of building and material going into construction of the House. Where a new Home is being built at least three inspections by Cha representatives take place at intervals during the Progress of construction. A further Check of the Fuad procedure which proves of value to the potential buyer lies in the matter of credit rating and provisions for repayment of the loan in Many instances potential Home builders and owners have contracted for the Purchase of Homes in excess of their ability to repay. In times of Stringency they lost their equity an Well As any possible future interest in the property. Under the Cha plan onside ration of present and potential ability to repay the loan places a Check on the estimated a ablation of a Home which a prospective buyer desires to Pur the Best refrigerator at the Best Price greater Economy in operation new refinement of proven features improved Quick release is cure trays lighted \ wide Rano temperature control aate 7ttftrrjirrc3 wms to. To his a Jeff if i cd. A Kew n vegetable crisper. New \ adjustable removable sliding shelves a Phe dramatic Story of bakelite a plastics and How they Are making life More enjoyable in a thousand and one ways will be dramatically portrayed in the Hall of Industrial science at the new York world s fair by bake Lite corporation. The Public will see at first hand How plastics Are made As automatic presses turn out folded souvenirs by the hundreds. Visitors moving from one to an other of the dramatised Booths and demonstrations will become aware probably to the Surprise of Many that More often than not they eat drink Groom and dress themselves decorate their Homes Cook their meals drive their automobiles Fly listen to their radios and do countless other things All in some measure by the Grace of these magic Man made plastics. Illustrations show i. A few of the Twenty two animated Booths. 2. The household appliances Booth takes the housewife around the clock to show How important bakelite materials Are in the manufacture of All sorts of Home appliances. 3. Bla sties play a vital role in radio transmission transmit Ting and receiving equipment. 4. A visitor presses the Button to and out where the distributor head one of 200 plastic parts in the modern automobile to located. New Homes in Many parti of the country is still in excess of 6 per cent. Cha Loans must carry no higher interest than 5 per cent May of course be lower in late Tail in addition for an in Suranee Premium now 4 of i per cent except for Small new houses on which it in 4 of i per cent. Maturity Date on Loans to be eligible As huh collateral May not exceed 15 years on Cha Loans for All except new Conal auction May not exceed 20 years. Experience has indicated that Cha can be made completely self sustaining through its premiums. Tendency to Competition of the two ays ent has been a potent Force in a Kiev no Hefter lending Condi Toria for Borrower the National association of real estate hoards Points out. The Nannal association of heal estate boards which in 1931 proposed a National mortgage discount Bank which was t econ mended to Congress by in resident Hoover Bas welcomed both the Home loan Bank system and Tho Cha As partial Steps toward such a Central mortgage discount system a Bill be fur the present Congress introduced by senator Robert f. Wagner maid s room is useful feature of Small Home Adiar firliet us worry about your financing we can handle your. H. A. Loans a a a Section before after or during construction in planning a new Home the prospective owner should make provisions for a maid s room of lie family needs demand a servant. The minimum room space permitted in Homes built under the Insu Rade mortgage cyst pm of the Federal housing administration can be sufficient for comfortable maid s quarters. Built in furniture is particularly adaptable to a room of this Type and serves to make the greatest use of a Small amount of space. Even the cd May be built in Anil further Economy in space can be achieved by placing drawer for storage underneath. A desk Book Helf Aud drop Leaf table May be built in to Complete the Nenes Ary furnishings. Pastel shades May be used in decorations to reflect the greatest amount of Light and give an added feeling of spaciousness. By exercising extreme care in planning. The Homo builder let it a How you How aet by it it to buy a Shel Vador out of weekly income. Visit our store today and tee for your tolf that you get More in a Shel Vador. In buying a Home already built the prospective Home owner undergoes virtually the same procedure. Requirement As to neighbourhood location and property standards must be met. As a before financing figure w and at a minimum Cost hould be Able to include in a Small House a room that is adequate and attractive yet does not fringe upon the space required for family use. A maid s room May he added to existing houses with fund obtainable from qualified lending institutions under the property improvement credit plan of the Federal housing administration. Phone 4548 phone 4001309 North main Street Meldon Houes mgr. i ayes the purchaser of a new House is Tho owner of an older House but it would further cause a Rise in the Coit of Money. Just As the used car Market affects he Market for new cars the mortgage ability of existing houses will inextricably affect conditions Tot new Home ipod Union. A building and loan associations la our City alone have asked for insurance on Over $10 on existing construction Quot the Cleveland Points out. La. And i associations principal constituents of the ulu system Are second largest users of Cha insurance now Nold 13.7 per cent of ail insured mortgages Tho Ileal estate association of the state of new York Points out to committees of Cong Ess tha. The $3 billions of pet miss bite mortgage insurance authorized under the National housing act is almost exhausted of provision is not made authorizing additional insurance the ceiling will soon be reached. This cannot help but mean a drastic curtailment of new residential construction which is universally recognized to be both needed and desired. The association strongly urges tin. In additional 3 billions of mortgage insurance by authorized. It urges also continuance of mortgage insurance on existing construction after july i and con nuance of tile i for repairs and construction for new Homes up to $2,500. A the Cha has Hud a Hemen Dous influence in revitalizing the real estate construction Industry Quot the new York association says. A real estate conditions have not sufficiently improved to justify a lapse of any of the Cha or. And mrs homemaker. A a in i \ into the advantages of modern Gas cookery save time Money and labor with a new magic chef Gas Range. The a a cps stamp of approval on these new ranges Means certified performance. A guarantee that these ranges have successfully passed the 22 requirements set up by the american Gas association. It Means savings in fuel As Well As time and Kitchen Drudgery. Special offer for your old stove smokeless broiler Speed oven heavily insulated preheat in a hurry and is automatically controlled by the exclusive red wheel regulator. See these sensational new ranges now. Look into their Many advantages and let us demonstrate what the 22 Points of certified performance mean to you months to pay balance the National housing act is permanent legislation and the Federal housing administration a permanent governmental Agency. Debentures issued against the housing administration s Mutual mortgage insurance fund Are guaranteed by the flitted states Treasury phone 2700 233 South main Street

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