N ovember 9, 1994 • T he P ortland O bserver
P age A b
latrò
bseruer
Fannie Mae To Open Partnership Office
Fannie Mae, the nation’s largest
source of home mortgage funds, wil
open a "partnership office in Port
land.
Company officials Mae said they
plans to use the office to increase
home ownership opportunities tor
low- and moderate-income families,
new immigrants and minorities.
The plans were recently unveiled
at a news conference with Mayor
Vera Katz and representatives of the
Portland Trail Blazers, partners in
the enterprise.
“Fannie Mae will developacom-
prehensive plan so w e can do more to
help address the city's major housing
needs," Katz said. "Our new partner
ship office will play a key role.”
The office will be among the
first in the nation as part of Fannie
Mae’s commitment to loan $1 tril
lion more than 10 million homes
across the U.S. by the end of the
decade for families and communities
most in need.
“Our commitment is to make
home ownership more accessible than
ever before,” said Fannie Mae Chair-
Bank
Approves
Credit For
Housing
• i
‘- . J
•.
• ? • V
.
Ì-
•
• • -
• «
’ <S *•
r »
»*4 •-.t'
< ?> '
/A
"•yU..
’ . JÍ
The Northwest biggest home
lender, Washington Mutual, is mak
ing $4 million available to increase
the available of affordable housing
in Oregon.
The Network o f Affordable
Housing, a non-profit corporation
established in 1990 by 16 Oregon
banks, provides financing for afford
able housing developments. Each
member bank supplies a line of credit
based on a percentage o f its deposits.
Washington Mutual is increas
ing its line of credit from $270,000 to
$4 million and is now the network s
fourth largest lender. The increase
reflects the bank’s dramatic growth
in Oregon as a result o f its acquisi
tion of Pacific First Bank last year.
“Fácilitating the development of
affordable housing is one of our top
priorities,” said Ken Leander, senior
regional manager for the bank s great
er Portland operations.
In addition to its support of the
network, Washington Mutual also
contributes grants and makes loans
that help decrease the shortage of
affordable housing.
So far this year, the Washington
Mutual Savings Bank Foundation has
given more than $310,000 to non
profit organizations throughout the
Northwest. Last year, about 15 per
cent of the bank’s total volume of
residential lending was made to peo
ple with low to moderate incomes
man James A. Johnson. "We think
.
I
the best way to do that is to work as
closely as possible with the people in
the neighborhoods, the local com
munity groups, mortgage lenders,
non-profiting housing organizations
and city governments. That is exact
ly what the partnership office will
do."
Johnson also announced that
Fannie Mae will launch its "Opening
Doors" consumer education cam
paign to help turn renters in the Port
land area into homeowners.
The campaign will utilize tele
vision, newspaper and radio adver
tising in English and Spanish. It is
part of the company's commitment
to reach out to every renter in Amer
ica to provide the information they
need to buy a home.
As part of the campaign, con
sumers who call the toll-free number
1 -800-688-HOME will receive a free
guide to homeownership and lists of
local lenders and homeownership
counseling agencies. Spanish speak
ing residents can call 1-800-SU-
CASA-9 (1-800-782-2729).
Johnson said that the Trail Blaz
_ joined J in »k.i
n H n h in t/-
ers 1 have
the u partnership
to
foster neighborhood revitalization
and increase homeownership in Port
land.
Fannie Mae will become a spon
sor of television, cable, and radio
broadcasts of the Blazer games, aug
menting Fannie M ae’s broadcast
advertising campaign.
"W e will use this p artn er
ship to start thousands o f people
who aspire to hom eow nership on
the path to achieving that dream ,”
Johnson said.
Blazers/Oregon Arena Corp
President Marshall Glickman said,
"Our partnership with Fannie Mae
gives the Blazers another excellent
opportunity to give something back
to the community that provides us
with so much support. We will work
with Fannie Mae to create opportuni
ties for Portland families to achieve
something very special: homeown
ership.”
Fannie-Mae is a congressional-
ly chartered, shareholder-owned
company.
• \¿ *
•»
->•'< ■' V
e.
/
.
& ■
. *■
■
N orthw est N atural Gas has
filed for a rate reduction o f 3.4
percent for its O regon residen
tial custom ers effective Dec. 1.
The new price will lower the
average resid en tial custom er s
bill by about $1.55 per month,
assum ing average consum ption
on 66.4 therm s per month.
M ost o f the reduction is b e
cause o f lower natural gas prices
in the U.S. and Canada. Increased
drilling activity in A lberta and
B ritish C olum bia, where the u til
ity buys most o f its gas, and com
pletion o f various pipeline e x
pansion projects have helped re
duce natural gas prices.
“ These price reductions are
good for our custom ers and good
for the gas com pany as we move
into the w inter heating season, “
said Robert R. Ridgley, com pany
president.
The utility has added more
Advertise In
(Ulic
IJnvtlaxib
(Ohseruer
than 20,000 new residential and
com m ercial custom ers during the
past year and continues to see
growth in the spaceheating and
w ater heating m arkets.
The com pany also plans to
reduce costs for com m ercial cu s
tom ers by 4.4 percent, industrial
custom ers by 5.4 p ercent and
most interruptible sales custom
ers by 6.6 percent.
A s im ila r re d u c tio n is
planned in W ashington State.
HB *
24 .
vulnerable areas and make sure that
your yard is well-maintained so that
no one can hide in a bush and jump
out at you.”
According to Macina, outdoor
lighting and proper landscaping are
critical components to the “crime
prevention through environmental
design” concept.
“Criminals greatly value their
privacy, so they don’t like lights,”
she explains. "And overgrown bush
es and trees give a thief and possible
other types of criminals the luxury of
lots of hiding places.”
In addition to security lighting
and property landscaping, insurance
companies recommend that you
check the security hardware on your
house, be sure to mark personal prop
erty and keep an inventory, either get
active or activate a neighborhood
watch program by calling your local
police and consider installing a bur
glar alarm.
The insurance com panies
though its information service, Port
land Police and the Crime Preven
tion Association of Oregon have
developed the video “You Make
the Difference: Preventing Home
Burglary.”
This 22-minute program gives
a stop-by-step demonstration from
the experts on how to thwart home
burglars. It is available on a free
loaner basis at most public libraries
throughout the state, the crime pre
vention officer or unit at your local
law enforcement agency or by call
ing the W1IS Regional Office at
11855 S.W Ridgecrest Drive, Suite
107, Beaverton, OR 97005, (503)
643-6355.
In addition, a consumer bro
chure entitled “You Don’t Want
Strangers Pointing Out Your Home
Security Flaws” is also available.
Wood Ashes Benefit Some Garden
And Landscape Soils
by
soil. Soil testing information is avail
able from county' offices of the OSU
Extension Service.
In flower beds, one-half to one
pound of ash per year is recommend
ed for each shrub. Remember that
this guideline applies to acid soils
low in potassium. Don't use ashes
around plants that prefer acid soil
such as blueberries, rhododendrons
and azaleas.
Apply ashes evenly and, it pos
sible, mix them into the soil. Don't
B ob R ost
Wood ashes from the fireplace
or wood stove can improve soils in
gardens and shrub beds, but only if
applied at the proper rates.
An ash application rate o f 10 to
15 pounds per 1,000 square feet o f '
garden plot is about right, says Ray
McNeilan, Oregon State University
Extension home gardening agent.
There is one important excep
tion to using wood ashes to fertilize
gardens in the winter. Don t apply
ashes to gardens with high levels of
potassium. A soil will show how
much ootassium is present in garden
leave ashes in lumps or piles on the
soil surface, says McNeilan. Exces
sive salt concentrations of ash is dead
ly to plants.
Do not apply coal ashes and
ashes from lead-painted or chemi
cally treated wood to garden soils.
These types o f ashes may have a bad
effect on plants.
Also, don’t use ashes from fire
places or incinerators where trash is
burned. Harmful elements from the
trash concentrate in the soil.
L IS C E N S E D IN O R E G O N S IN C E 1975
Singles & Seniors, I can help you!
II. Francene Grewe
Branch Manager
Sales Representative
“1st Class Gaurantee”
A-ZEBRA
(3. RMts
George A. Hendrix
MBA, GRI, Broker
Call
503-288-0033
Ô
Norwest Mortgage, Inc.
825 NE Multnomaht
Portland, OR 97211
Realty Inc.
300 NE Multnomah, Suite #16
Portland, Oregon 97232
Office 503-235-1940
FAX 503-235-1948
Pager 503-635-1622
(503) 230-1390 • (Res.) 287-6837
J.L.S. Lawn Service
Painter
office: 503-335-0263
pager: 503-940-7721
249-1719 or 778-9360
Estimates
4712 NE 66th Ave
Portland OR 97218
B
a n k in g
o n
A
m e r ic a
"
F ree checking
that lasts
479 gam es.
T h a t’s until the year 2(MX) to be exact. Y ou'll also get a free ord er
o f B la z e r 2 5 th A n n iv e rsa ry c o m m e m o ra tiv e c h e c k s, a free
B lazer checkbook cover, and m ore. A nd w hen you sign up for
F r e e C h e c k in g U n t il
the
Y e a r 2OOO
free B lazer C heeking, vote for y our all-tim e favorite B lazers and
enter the L egendary L ine-U p Sw eepstakes. T h e grand prize is a
pair o f season tickets for the '9 5 - '9 6 season in the new R ose
G ard en A rena. S o stop by any B ank o f A m erica
b ran c h fo r free B la z er C h e e k in g until the y ear
2000. It’s som ething to look forw ard to. Improve
Your Banking. (Call / -XOO-USE-BofA.
B ank of A m erica
M .ke fm m Legal rem ,nth u . , „ let
M em ber FD IC Go Blazers, g o '"
B S
Have you noticed that it con
tinues to get darker earlier? O f
course, it’s that time o f the year and
the switch to standard time makes it
ever darker sooner.
The fact that the days are get
ting shorter increases the changes
that you and other family members
may be returning home after dark.
The question is: “Is your house dark
outside too?”
“This is a good time ofthe year
for homeowners to consider home
security lighting,” said Marianne
Macina, regional manager o f the
Western Insurance Information Ser
vice. “Having lights that come on at
dusk and off at dawn will ensure
that your home is well lit when you
get home at night.”
Macina says that well-lit hous
es help to deter thieves.
“You may also wish to install
motion-sensitive lighting around
Gas Company
To Reduce Rates
FHA
Simplifies
Home Loan
Process
The Federal Hosing Ad
m in istra tio n has announced
th at effectiv e D ec. 5, FHA
lenders will be able to select
their own appraisers instead o f
being assigned appraisers from
the FHA fee panel.
This means that FHA apprais
als and loan closings can be com
pleted as fast as any other home
purchase loan program.
FHA loan p rogram s a l
ready have the com p etitiv e
advantage o f low down pay
m ents and higher loan q u alifi
cations ratios. With direct lend
er selection o f appraisers, the
popularity o f FHA loans is ex
pected to increase
In Oregon and southw est
W ashington, dozens o f FHA
lenders are available and can
be found by looking under the
Real Estate Loans section in
the yellow pages.
Use Lighting To Protect Home
k n .~ ,hat n „ purchase „ neee,«r>
enter ..e e p M a ke . M u d he 1» >eurs nr older W ,d where p rn h.h M d Free cheek,n, offer w .,»e. nutnlM y « rv .e e fee and , . vu hte tl 1» kland.trd opening pnxedures and rules o l ac conni See branch Tor details Rank ol America Oregon