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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Jan. 22, 1936)
I Want ttf HELP YOU Own Your Home Tiiir::.'lh Year FHA Medford's FHA Program Given Financial Support Splendid cooperation on the part of Medford lending institutions brought a large degree of success to the better housing program In Jack son county. 1 High praise Is given to the First ' Katlonal bank, V. S. National bank Medford Federal Savings & Loan as sociation and Jackson County Build lng & Jjoan association by Jamleson Parker, state director of the Federal ' Housing administration, for their helpful participation in the program. The f'.ne spirit of cooperation i shown by Jackson county financial : Institutions not only has made It ' possible for local residents to under ' take building projects and repair and modernization which otherwise might - have been greatly delayed, but It also ' has served the very useful purpose , of giving encouragement to the pro gram In neighboring communities l where there apparently Is need. of t ruch a stimulating Influence to ex- pedlte operations and Insure widest ! possible distribution of benefits. Jackson county residents are foit- r tin ate Indeed In having abundant private capital available on reason- able terms for the Improvement of their homes and business properties, 1 and for the construction of new 1 homes. This accessibility or funds under the complete home financing I plan of the Federal Housing admin istration paves the way for a much- needed revival of home building, and It Is the hope of the housing organ ization that full advantage will oe taken of the opportunity thus pre sented for acquiring a modern home of enduring style and structure. Loans for the building of new homes under the FHA plan, as well as loans for the repair and modern ization of homes and business prop erties and for the purchase of eli gible equipment and appliances are obtainable by applying at any co operating lending agency, or any dealer whose advertisement appears In this special housing section. Loans for New Homes The Medford Federal Savings aid Loan association, which long has been an active participant in the housing program under the Modernization Credit plan, has announced an allo cation of funds for the financing of new home construction In coop eration with FHA. Citizens of Medford who contem plate the building of homes are In vited to call at the offices of the association, where an explanation of single mortgage system of FHA will be given them by J. H. Fletcher, dir ecting head of the Institution and an enthusiastic supporter of the Federal Housing program. This action on the part of the Medford Federal, it Is believed by housing officials, will have the ef fect of giving Immediate stimulus to home building In the Medford area. (Continued on Page Ten) SHOPPING VIEWS The "Shopping Tour" pictures ap pearing on the Inside pages of this Better Housing section of tha Mail Tribune were reproduced from photographs taken by J. Vern fihannle. of the Shanele Studio. The photographs mere taken oj Mr. Shangle In record time and are splendid examples of the high qual ity work for which the Shangle Studio Is renqwned. Mr, Shanglt sper.alir.es In portrait work and Illustrative photography, as well as commercial work, and the excellence of his pictures has won for blm and his studio a place of high rating in his profession. The Shan?le Studio ts located in the Med foid building. Medford Full Associated Press Officials Will Explain inancin r ! JAMIESON PARKER, State Di rector, Federal Housing Adminis tration. BIG SUM SPENT The Modernization Credit plan of the Federal Housing administration has been the means of releasing over 16,000,000 In Oregon for home re pair and modernization work. Loans made by Oregon banks and other lending Institutions under the mod ernization credit plan have reached a total of approximately 3 ,420,000. It requires but a few minutes to acquaint the home owner with the simplicity of the program and its practical operation. The applicant ap proaches the lending, agency with his plan for repair or' modernization work, and answers a few questions on a credit statement. If no Invest igation la necessary, the loan can be completed In 10 or 15 minutes. The amount of Interest to be charged by the lender is governed by the rules and regulations of the Federal Housing administration and the maximum charge permitted. 6 per cent discount per $100 per an num. Is considerably less than charge; have been heretofore on similar fi nancing. As a practical example, this means that for a repair loan of 1300 to run for -34 months, the maximum Interest charge will amount to 27.67 The borrower signs a note for 1300. and receives In cash, after the dis count Is taken, 1373.43. The monthly repayments amount to 116.67. Nearly every town In Oregon re ports an Increased building activity, and attributes the Increase to tho efforts of the Federal Housing ad ministration. Building and supply dealers, lumbermen, contractors. painters and all allied trades report their business much better than at any time during the last four or five years. The moocrmzatlon credit plan offers an opportunity to all business in the building trades, and the more progressive concerns are taking advantage of the opportunity with gratifying results. Let us show you how to get more bulnee and hoto you can assist your community by cooperating with this program. Let us show you how you now can make those necessary repairs and improvements to your home. The time has come to act. MODERNIZATION PLAN IS AID TO PLUMBERS PORTLAND. A Dun At Bradstpeet report reveals the plumbing industry In the most advantageous position since 1030. and credits the Modern ization Credit Plan of FHA as having contributed greatly to the improved buslmvs. Better Housing Edition m&mdlMkm mw mm oasts See your dream of a home come true! Enjoy the pride of ownership. You can buy your house on a plan that is economical, safe and convenient as easy as paying rent. Here's the general plan. Inquire at one of the in stitutions listed below for details about building, or refinancing a home. Any responsible citizen with a steady income may borrow on this plan. Your mortgage is financed BENEFIT OF FHA PROVED IS CHAMBER EXPERIENCE By A. H. Ban well (Manager Jackson County Chamber of Commerce) A check up on those In the build ing trades and those who sell house wares, would Indicate that the Fed eral Housing act has been of great benefit to this community. The cam paign which the Jackson County Chamber of Commerce sponsored some months ago, brought definite results. The business created through the housing act was not only of benefit to those directly concerned but brought about an indirect bene fit In which every business man and professional man participated. The creation of Jobs through a remodeling and rebuilding program must neces sarily place new money into-' the channels of trade, and fhe wages earned as a result of such a program are naturally spent and distributed Obtaining FHA Loan Explained by Borrower Most of the questions asked by the average applicant for an FHA loan are answered In a statement made to Jamleson Parker, state FHA director Portland, by a successful appltcsnt on "How I Obtslned My FHA Loan." The statement follows: "Tea, I certsinly was surprised when I found out alt about the fed eral housing administration program. Of course. I hsd heard persons talk ing about the FHA and the new plan for home financing, but I dldn pay much attention to It. But we decided that thin might be an op portune time to build our home, so I went to the FHA office to about it. Bank Was herlpful "My first surprise was in being Informed that the FHA did not make the loans. X was told that bsnks and other lending agencies made the loans, and that each lending agency must be approved by the FHA be fore It could participate in the pro gram. After getting more Informa Mr BEDFORD, OREGON. to every type of business. Judging from the results of the past under the housing act administration, It is only fair to assure that the big ef fort now being extended In Jackson county under trie act, will create more work and more jobs, and there fore a greater amount of money will find Its way Into the cash registers of every business In the county. The business of a chamber of com merce Is to protect and promote the varied Interests of the community It serves, and any organization would be derelict In Its duty If It did not encourage the remodeling and re building program under Title I of the act and the building of new homes under Title 2. The Jackson County Chamber of Commerce will co-operate to the fullest extent In order that the present campaign shall be an unqualified success. tion concerning the plan, I went to see my banker. I was surprised again in finding that the bank was glsd to discuss my plans, and did every thing possible to help me. "I was told to hsve my plans and specifications prepared by someone competent to do this work, although It was not necessary that I employ an architect. It seems thst the FHA office has an architectural division, which Icoks over the plsns to see thst property standards are met, and also checks up on cost estimates. This seemed like a good proposition to me, because I wouldn't know much shout coits, , "I then asked my banker what it was going to cost me to get the losn. At this point I discovered thst the FHA controls the amounts thst msy be chsrged, and they certainly are reasonable. In fact, they are con siderably leas than I hsd thought. The cost for title search and record (Continued on Page Ten) WEDNESDAY, JANUARY 22, 1936 to BUILD MODERNIZE OR s REFINANCE YOUR HOME tinder Title II of the National Housing Act which bears the stamp of approval. of the United States government. You may secure a loan up to 80 of the appraised value and repay the money over a long term period as easy as paying rent. Principal, interest, taxes and insurance are all included in each easy monthly payment. . In a few years your home is debt-free . . . a living tribute to your family. USERS OF CREDIT T Oregon financial Institution, which r cooperating with FHA In the modernization program, 'are enthus iastic over the way their character loan, are paying out, according to Jamleson Parker, state FHA director Persons who have availed them selves In the fatuities made avail able by the Modernisation Cretin plan are malting their monthly pay ment, with a promptness that U highly gratifying to lending Institu tions and to FHA, the director said There have been some delinquencies but the number haa held to a aur prlslngly low percentage considering the large volume of operations In Oregon. The number of actual de fault, la almost negligible. "Borrowers appreciate th, conven ience of the plan which enablea them to make needed repairs to their homes, to impruve tiieli living con ditions by modernisation and the purchase of appllancea and equip ment so necessary to every home,' It wa explained by Parker. "They welcome th, opportunity to partici pate In a program which possesses such possibilities for Improvement of general conditions aa doe, th. Mod ernization Credit plan, and they are showing their good faith by making their payment promptly, "For the enllghtment of those who have not yet participated In the Modernization Credit plan and who need assistance In Improving their homes, buying modern hotre appll ancea or modernizing busl-ies, prop erties, It should b, explMned here that any responsible penons with sufficient Income to make th, re quired monthly payments, may ob tain loans from banks or other ap proved lending Institutions. For home betterments th, , mount borrowed may not exceed 12.000 but loans up to ,80.000 are available for th. Im provement of Income properties or th, purchase and Installntlon of eligible equipment and machinery." Tribune MEDFORD BRANCH THE FIRST NATIONAL BANK OF PORTLAND oer-OSITS IN THIS SANK All FuU United Press WOMEN OF STATE "It Is of paramount Importance that the women be Informed of every phase of the Federal Housing pro gram. They are the real homemakers. They actually spend 80 per cent of the Income." So declared Miss Manche I. Langley. field representative or me women's division of the Federal Housing ad ministration In Oregon; "The women are Interested and enthusiastic about the program," continued Miss Langley. "X have found that not only are those wo men Interested who hope to obtain an Insured loan and become active In some form of building In their own family, ibut they also are Inter ested In the broader sense of com munity betterment." Miss Langley stated further that she had found the women of her district eager to Inform themselves regarding the Federal Housing ad ministration In order that they might pass the Information along for the benefit of their friends and the com munity in general. There are 830 women's divisions throughout the United States, Miss Langley said. There Is a woman chairman In virtually every Oregon county. Mrs. Evan Reames of this city ,1s local chairman In charge of Women's housing activities In Jack son county. Homemade mattresses are replacing straw ticks; long used by many rural families In the south, thanks to 110 pounds- of tax-free cotton allowed growers for domestic use. We finance installment pur chases of equipment and make loans for moderniza tion and repair of properties under Title I of the National Housing Act. Your Inquiries Are Invited fi!!F ,14 "Odeil National INSUKEO BV THE MODAL DEPOSIT INSURANCE CORPORATION I Want to HELP YOU Modernize No. 258. Plan IS JANUARY 23-24 State Housing Leaders Will Come to Medford to En courage Use of Insured Loans Meeting Is Open An explanation of how citizen of the Medford district can build, buy or refinance residence properties un der the economical, safe and eon venlent complete home financing system of the Federal Housing ad ministration will be given at a two day conference to be held In tha Jackson County Chamber of Com merce offices Thursday and Friday, January as and 34, according to an nouncement made by B. B. Harder, chairman of the Jackson County Bet ter Housing program committee. The conference will be in session each, day between the hours of 9:00 and 5:00. The conference will be directed by Leslie Peyton, manager of financial relations, and John H. Hoppee, field representative. Both are members cf the Portland headquarters staff of the Federal Housing administration. Cooperating with them will be H. A. Tblerolf, vice president, and A. K. (Continued on Pairs rent tonl Will of Id. 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