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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 purch黫 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
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