Portland observer. (Portland, Or.) 1970-current, April 20, 1983, Image 15

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Newspaper Page Text- «¿w 1 4 n r w ü r •*-- Portland Observer, April 20. 1983 Section II Page 3 US D e p a rtm e n t of H o u sin g and U rban D e ve lo p m e n t MISCELLANEOUS 8 1/2% Financing! And Now. . . i r 3-5% Down Payments Too!! VETS Z e ro d o w n /c lo e J n g A lit tle p a in t is all y o u n e e d to m o v e in . L a r g e 4 B e d -p o s s i- b le 6 B e d fa m ily h o m e G o o d S E n e ig h b o rh o o d . ^ W o n'i last lo n g e t 466.600 (FOR ALL HOMES EXCEPT ALL CASH AS-IS HOMES) 9.0% APR A P T . FOR R E N T N ic e 1 b e d r o o m a p e r t - HOMES AVAILABLE WITH 81/2% (7 YR. TERM) FINANCING & 3-5% DOWN PAYMENTS re n t 4 1 7 6 /m o n th , no d e p o a it, n o fe e c le a n i n g C a ll W ia llia m , 2 8 7 fe e . C e ll W illia m s . 2 8 4 3 4 3 1 o r 2 8 1 -2 1 0 4 . B rid g e t I. D o w n e y REPAIRED HOMES 1746 WaNa Acre M . Mo 54, Band. OR *24,090 3BR. 1 Batti #71 Approi Sq Ft • Asan Dum 1710 WtH# Acre IM. Ne 24. Raed. OR Minimum Price ★ One Year Structural & 2BA 1 Bath 640 Appro» « Sq Ft . • Axi 2222 Monterey Lana, Eugene. ON 3BR. 1.4 Bath 1113 Approx Sq Ft Operating Systems Warranty 3305-9 Vittoria Way, Newberg. ON *54.444 3BR. 1 5 Bath, 1232 Approx S q Ft *40,750 m e n l, N .E . P o r tla n d , Equel H o u sing O p p o rtu n ity 7804840/701 7783 Minimum Price 3305-12 Vittoria Wi ay, NataOii g .01 ON 2BR. 1.5 Bath MO • Approx Sq Ft Cameo Homes Minimum Price 205 Fodhdl Dr ON 3BR. 2 Bath. 1240 Appro» Sq FI •53. S M *33,500 200 E. Oth SL, Battlaground, WA R. 2 Bath. 1527 Appro» Sq Fl *54,700 DOWNEY INSURANCE AGENCY, INC. 520 S W r *32,000 6 th A v e 228-8327 t , B o i 211-F, La Cantar, WA 'M .000 3BR. 2 Bath 1590 Appro« Sq Ft (5 Acraa) Minimum Price 4000 N. Albina Ava., Portland. ON 3BR. 1.5 Bath 1854 Approx Sq Fl 4737 Osisy, Sprmgllald. ON 3BR, 1 Bath 960 Approx Sq FI P o rtla n d , O R 9 7 2 0 4 14507 S.E. 26th Place. Vancouver. WA '51,400 3BR. 2 Bath ISO# Appro» Sq Ft C A R 8 41001 T ru c k s 47B A v a ila b le a t lo c a l o o v t a e le a . C a ll r e f u n d a b le . (3 1 2 ) 9 3 1 -5 3 3 7 e x t. 2 1 4 1 B fo r y o u r d ire c to ry o n ch ase . how lo p u r 14111 N.E. Columbine, Vancouver, WA *54.000 3BR, 2 Bath 1468 Appro» Sq Ft O N A budget Minimum AS-IS HOMES 250 M. 14 th .C o m a H M .0N 2BR. 1 Bath 1185 Appro« Sq Ft ISO Jackson, Eaataida, ON 3BR. t Bath 1200 Approx Sq Fl Minimum Price 210 Ealala Court. Springfield, ON 36R. 1 5 Bath 1278 Approi Sq Fl You Save Money By Doing Your Own Repairs Within One Year* No Warranty Ideal for families, Investors or Contractors 2436 High St , Eugens, OR Appro Sq Ft 2BR. . 1 Bath. Bath 714 ? 14 "Approx M 7 N I0 Vieta, Eugene, ON 3ÓR. 1 Bath 1080 1060 Appro« App Sq Ft 4540 Souza Court, Eugene, ON 3BR. 1 Bath. M O Approx Sq Ft. 4141 S.E. Bandy Rd., NHtobora, ON 3BR. 2 Bath 1 <53 Approx Sq Ft 935 Murray SL, ktodtord. OR 3BR. 2 Bath. 1728 50 Appro« Sq Ft 2 1 N 1 4 FoothWs, Oregon CNy, ON 3BR. 1 Bath 1 128 Approx Sq. Ft. Minimum Price 7317 S.E. Bybee Blvd., Portland, ON 2BR. 1 Bath. 1205 Approx Sq Ft. 1 TOO N.E. Jarratt, Portland, ON 2BR. 1 Bath 722 Approx Sq Ft 5408 N. Omaha, Portland. ON 38R. 1 Bath. 1138 Approx Sq Fl 1402 S.E. Flavel, Portland, OR 4BR. 2 filth 1487 Approx Sq Ft 4344 M l Grand Ava., Portland, ON 2BR. 1 Bath 1027 Approx Sq Ft. 3024 N. Hai lack SI., Portland. ON 3BR. 2 Bath. 078 Approx Sq. Ft 1230 N.E. Sumner. Portland, ON 4BR. 1 Bath 1811 Approx Sq Ft 3242 S.E. Taylor. Portland, ON 1BR. 1 Bath. 712 Approx Sq Ft 4455 N.E. 10th, Portland. ON 3BR. 2 Bath 1204 Approx Sq Ft Minimum Price *24,000 1313 S.E. 142nd Ave.. Portland, ON 38R. 1 Bath 1152 Approx Sq Ft *37,500 2434 Centennial Bhrd, Springfield. ON *20,250 38«. 1 Bath. 897 Approx Sq Ft *34,000 *42.500 •Th« repair» that HUO require« that yg In each heme. A c o p , a t iheee repair *35,000 ( C o n t i n u e d f r o m p a g e ! c o lu m n 6 ) (ia l services. *34,700 G a lla g h e r said he d i d n ’ t k n o w h o w th e b u d g e i 405 N. 70th, Springfield. ON 2BR. 1 Bath 052 Approi Sq Ft c u l l w e r e p r io r it iz e d f o r e a c h b u r e a u o r o f f i c e . " T h a t ’ s p r o b a b ly w h y w e u n d e re s tim a te d th e r e 10113 N.E. 141h CL, Vancouver. WA 3BR. 3 Bath 1010 Approx Sq Fl s p o n s e ,” he said. 12114 N.E 79th SI . Vancouver. WA 3BR I Bath. 1014 Approx Sq Fl w h o w o rk e d w ilh c rim e p re v e n tio n p ro g ra m s u n til G e o rg e R ic e is a re tire d P o r tla n d P o lic e O f f ic e r his r e tir e m e n t e a r lie r (h is m o n t h . H e w as o n e o f 421 N.E. 127th Avo., Vancouver, WA 48R. 2 Bath 1385 Approx Sq Ft *51.000 3413 N.E. Power» Cl., Vancouver. WA 3BR I 5 Bath 1040 Approx Sq Ft *40 000 104 W 45th SL. Vancouver. WA 2BR 1 Bath. 829 Approx Sq Fl *24,500 c rim e p re v e n tio n p ro g ra m s . 207 S E. 154th, Vancouvar. WA 3BR 2 Bath 1006 Approx Sq Ft *47,400 h o o d a s s o c ia tio n , c lo s e d th e press c o n fe re n c e a f e ig h t sp o ke sp e rs o n s a t th e press c o n fe re n c e c r i t i c iz in g th e s e verity o f th e b u d g et cu ts f o r O N A . R ic e a ttrib u te d th e c it y ’s o v e r a ll c rim e re d u c tio n in 1 9 8 2 - 8 3 in p a r t t o e f f o r t s b y n e ig h b o r h o o d C h a rle s F o r d , c h a ir m a n o f (h e B o is e n e ig h b o r te r re a d in g a le tte r M a y o r Iv a n c ie h a d h a n d -d e liv ere d to F o rd a t th e press c o n fe re n c e . llty Diet you will do within on« year »re pox I «4 i will t>« provided to you It MUD accept» youi “ T h r o u g h a m is u n d e rs ta n d in g b e tw e e n m y o f fic e a n d th e c o m m is s io n e r-in -c h a rg e o f O N A . w e A»- le home« ere offered for u l « without a n , warranty. _ The purchaser h a t Ih« responsibility »«* »or determining condition of the property prior lo p u rché.» and - »hould u ..................... - - - chock - with the locai building codo en forcem en t a g o n e, lo H Ih o p ro p o rt, ha« eulatanding cod« *24,000 d id n o t h a v e th e c o n s e n s u s t h a t th e b u d g e te d a m o u n t ( f o r O N A ) w as in a d e q u a te ,” w r o te Iv a n cie . " W e n o w c le a r ly see th a t th is le v e l is n o t su p ALL CASH AS-IS HOMES p o r t a b l e , a n d 1 w i l l m o v e l o r e s to r e a n a m o u n t th a t w ill e n a b le th e n e ig h b o r h o o d o ffic e s to fu n c ★ NO WARRANTY Minimum Price 1430 Aah St., Cottage Gro,a, 0N 2BR. 1 5 Beth, 134 f Al Approx Sq Ft tl. 1347 *14,500 115 N. Oth 81., Creewetl, ON 3BR. 1 Bath. 1784 Approx Sq Ft 54 Jackson, Eugene, ON 3BR. 1 Bath. 1044 Approx Sq Fl 4057 Marshall. Eugana. ON 3BR. 1 Bath. 1034 Approx Sq Fl 2340 W. 11th, Eugana. ON 2BR. 1 Bath. 720 Approx Sq Fl Minimum Price 2224 Oregon A m .. Klamath Fall». OR *14,000 2BR. 1 Balh 1210 Approx Sq Ft 420 Peart SI., Madtord, ON *24,000 4BR. 2 Bath. 1885 Approx Sq Fl (Includes Small Upper Apartment) 15420 Letlln Lane, Pleaeenl OR *20.500 3BR 2 Baffi 1080 Approx Sq Ft (Approx ’♦ Aera) 5410 S.E. OSMI Ava., Portland, OR *10,000 2BR. 1 Balh 702 Approx Sq Fl 2410 Stato SL, Satom, OR *30,000 3BR. 2 Balh. 1500 Approx Sq Ft tio n a n d a c c o m p lis h Ih e ir g o a ls .” A c c o r d in g t o F o r d a n d o t h e r s p o k e s p e rs o n s , th a t w o u ld a m o u n t to f u ll r e s to r a tio n o f O N A ’ s Minimum Price Minimum Price 1 9 8 3 -8 4 b u d g e t. L a s t y e a r O N A ' s t o t a l b u d g e i 2 4 2 5 - r S L , Springfield. OR 2BR. 1 Bath 1135 Approx Sq Fl *13,004 343 S 42nd PI.. Springfield. OR 3BR. 1 Balh. 1024 Approx Sq Fl *13,500 c a m e to $ 6 0 0 ,2 7 2 . Iv a n c ie p ro p o s e d re d u c in g th a t 440 N. 23rd Sl.. Springfield. OR 3BR 1 Balh 1104 Approi Sq Ft 345 S. 14th SL, Springfield. OR 2BR. 1 Balh. 787 Approx Sq Fl *14.000 250 S 41rd SL, Springfield. OR 2BR 1 Bath 10BO Approx Sq Fl *12,900 t io n . th e M a y o r a ls o p ro p o s e d to ta k e th e m e d ia *12,000 901 E. 24th SL, Vancouver. WA 3BR, 1 Bath 927 Approx Sq Fl *20.300 to $ 4 0 1 ,7 8 6 f o r th e c o m in g fis c a l y e a r . In a d d i tio n o f f ic e o u t o f th e M e t r o p o lit a n H u m a n R e la tio n s C o m m i s s io n ( M H R C ) a n d p u t it a n d its $ 9 6 ,9 0 9 o p e r a tin g bu d g et in to O N A . F o rd said th a t th e M a y o r * ! o f f ic e has n o t y e l in ^»» c®4h ee-l» homes ere ottered for »ele without a n , warranty Tit« purchaser hex lha L” ’ ^ •'•rm ln ln g condition of the property prior lo purché»« and a hould check , , ®**’*^»**9 co«*« enforcement agency to determ ino II the property haa outstand log coo« v tolat lone d ic a te d h o w m u c h o f a r e s to ra tio n he w ill r e c o m m e n d to th e C ity C o u n c il. " W e ’ ll be ta lk in g a b o u t r e s t o r in g o u r b u d g e i lo its r e q u e s t e d l e v e l ” o f $ 6 0 8 ,9 4 6 , F o rd a d d e d . ALL HOMES OPEN FOR COMPETITIVE BIDS UNTIL 11:00 A.M. APRIL 27 1983 L a u r a T a y l o r , w h o c o o r d in a te s th e C i t y ’ s v a r io u s b u d g e t a d v is o r y c o m m it t e e s , w h ic h a ll o w n o n - C i t y e m p lo y e e s in p u t i n t o th e v a r io u s b u BID OPENING 1 PM APRIL 27,1983 re a u s ’ a n d o ffic e s * bu d g et p r e p a r a tio n s , w o rk s o u t o f O N A ' s a d m in is tra tiv e o f fic e in C it y H a ll w h e re s h e a ls o c o o r d in a t e s th e v a r io u s n e ig h b o r h o o d needs r e p o rts a n d p a c k a g e s O N A ’ s o w n b u d g e i, FINANCING Alt homes except all cash, as w homes are eligible for HUO Purchase Money M ortgage (P M M ) financing PM M financ ing will be provided lo qualified purchas ers at an 8% interest rate, a monthly ser vice charge of *4% and a 7 year term Because details of each transaction dlf lor the annual percentage rate (APR) for each transaction will vary slightly but generally APR for PM M financing will be 9 0% or less The PM M will provide for monthly mortgage payments of principal and interest lo be scheduled in the same manner as a 30 year mortgage even though the term is 7 years The rem ain ing balance will be due and payable at the end ol the term This means that buy ers will either pay off the balance or refi nance at or before the end of the 7 year PM M term ■== (FnM TW TY PMM DOWN PAYMENTS The minimum down payment is based on the actual bid made not the minimum bid price, and is the same lor both owner occupants and investors Down pay ments are 3% ol the first ’ 25.000 bid and 5% of the amount more than *25.000 Ex ample if a bid of *40.000 is made PM M down payments 3% x *25.000 equals *750 plus 5% x *15.000 equals *750 Total PM M down payment is *1500 ” T h c M a y o r r e q u e s te d fr o m e a c h d e p a r tm e n t We Pay The Broker LXJ ohet» I jV ' i See A Real Estate Broker Today th a t th ey p re p a re th e ir b u d g e i p ro p o s a ls a n d f u n d in g le v e ls in a n t ic i p a t io n o f e x p e c te d c u t s , ” sh e said. “ T h e fir s t b u d g e t le v e l w as s u p p o s e d to be 7 0 Any real estate broker «ml show HUO acquired properties to you The broker completes paperwork necessary lo subrml an otter iThere is no ur.ee discount it you directly submit an offer i When you submit an offer your broker wiH collect a *500 earnest money deposit from “CC#P' * ’" * * 7 ° ° ' broker will be asked to forward the deposit to HUO It HUD does not accept your otter your broker will •nlurn your lull earnest money deposit r p e rc e n t o f Ia s i y e a r ’ s b u d g e i, a n d th e n w e c o u ld ph ase in a d d it io n a l levels w h ic h w o u ld b r in g o u r b u d g e t u p to its c u r r e n t s e rv ic e l e v e l,” she s a id . O N A ’ s to ta l b u d g e t levels r e fle c te d a 1 .4 p e rc e n t in crease fr o m last fis cal ye a r. " W h y c u l th e h e a rt o f th e p r o g ra m s a n d le a v e us b a s ic a lly a l o n e ? " a s k e d O N A a d m i n is t r a t iv e BROKER INSTRUCTIONS R ep aired and as-is homes may also be eligible lor other mortgage financing pro grams including FHA insured. Federal Va. and Conventional loans Down pay- d ifferent than P M M dow n p a y m e n t« S ee your Broker or Lender for details All cash as-is homos are sold on a cash basis and are not etlgMHe for P M M f i To submit an offer you must Submit a signed Broker's Tender and Offer to Purchase (HUO Form 9551) Cddeet and retain an earnest money deposit of $500 from the purchaser It HUD accepts your offer we will ask you to forward the earnest money If HUD does not accept your offer you are to return the full earnest money to the purchaser nancing or FHA Insured financing. TERMS & CONDITIONS The properties appearing n thia advertise ment are our official public inlormehon re lease of ALL acquired properties currently available for sale Bid« win be accepted by ell interested parties including owner occupants and investors Owner occupant offers have priority lor all Homes except all cash as is homes All bids time stamped m by HUO sales staff on or before 1 1 0 0 AM April 27. 1983 WIN be considered Time stamping lakes place on the 12th floor. Cascade Building 520 SW 6th Ave nue. Portland. OR 97204 HOW TO PURCHASE w h ic h w e n t to th e M a y o r . Your offer must be submitted within the bid period, in a soaled envelope which is clearly marked on the outside as "ow ner o ccu pan t" or ••investor". The envelope should also contain the property address and the bid opening date Envelopes not properly marked will not be considered and will be re turned unopened Earnest money forfeiture will not oc cur because of failure to obtain credit approval on repaired and as is homes available with 8*4% P M M financing AH bids received sre considered only as oi lers HUO reserves the right lo reiect any or et bide or to wane any informality or irreoulantv in any bids AK properties not bid on at brd opening wiS remain available lor purchase on a first come first serve basis until the next OREGONIAN advertisement It cancellation occurs c m sale back-up o i lers retained by HUO may be considered Once back-up oilers ere exhausted the home •nil not bn available lor additional offers unis relisted m the advertisement d ir e c io r P a tt i J a c o b s , w h o p o in te d o u t th a t w h ile O N A ’ s fie ld o ffic e s w o u ld e x p e rie n c e d ra s tic cu ts , th e M a y o r p ro p o s e d o n ly a fo u r p e rc e n t c u l in a d Once credit approval on these proper ties has been granted, forfeiture will not occur unless closing does not oc cur within 30 days Failure to close an as-is. all cash sale within 30 days from H UD acceptance of the purchaser s executed retail sales conlract will be a basis for forfeiture All requests for earnest money refund must be trans m itted by p urch aser through the broker who originally submitted the offer Purchaser is required to obtain fire and extended insurance prior to clos ing for all properties except all cash as-is sales and must bring m evidence of insurance to the closing Down payment requirements are pay able at closing Forms and additional information can be obtained by brokers by calling HUD sales staff Our address is 520 SW 6th Ave 12th floor Portland 97204 m in is tra tiv e services. " O N A ' s bu d g et is re a lly s m a ll," said a n a id e in C o m m is s io n e r C h a rle s J o rd a n 's o f f ic e , w h o asked n o t to be id e n tifie d . " I t has n o fa t to c u l o u t; i t ’s b a re b o n e fr o m last y e a r ." J o r d a n o v e rs e e s o p e r a t io n o f O N A . T h e a id e s a id J o r d a n w a s n o t a w a r e o f w h a t th e u n d e r s ta n d in g w as th a t b e c a m e a " m is u n d e r s t a n d in g ” b e tw e e n th e C o m m is s io n e r a n d th e M a y o r . G a lla g h e r seem ed to ag ree in p a rt a t lea st. •’ T h e b ig b u d g e ts get th e m o s t s c r u tin y ,** he e x p la in e d . T h e M a y o r has als o p ro p o s e d a S I . I m illio n c u l in th e P a rk B u re a u f o r th e c o m in g y e a r, a n a m o u n t d e s ig n e d to tr o u b le p a r k p la n n e rs f o r th e c o m in g s u m m e r, " W e w e r e so f a r a p a r t o n p a r k s , ” G a l la g h e r said o f ih e M a y o r ’s o f fic e a n d C o m m is s io n e r J o r d a n ’ s. " I ex p e c t th a t O N A ’ s b u d g e t d i d n ’ t get as m u c h c a r e as th e P a r k B u r e a u . O N A d i d n ’ t g e t a d e q u a te tr e a t m e n t.” ( E d ito r's n o t« : T h e C o u n c il a g re e d , b y c o n NEW EARNEST MONEY PROCEDURE CIRCLE YOUR CALENDAR HUO now require« thel purchasers make an earnest money deposit ol *500 with the broker at the time that an offer is submitted it HUO accepts the offer the broker win forward the earnest money deposit to HUO. if HUD does not accept the offer the broker wtk return the full depowno in« perton who mad« the o fta s e n s u s . to r e e t o r e t h e O N A t o t h e 1883 83 fu n d in g le v e l.) MAY 8th IS OUR NEXT BIG OREGONIAN AD APRIL IS FAIR HOUSING MONTH Jin 1958 boxer Sugar Ray Robinson (tirst champion to regain his crown I 4 ■ ■ k k * » .V * , r -*- .« r • ,¿ ’ **•' ; * . • ' J a ' ■ i became the five times.