The Daily Banner, Greencastle, Putnam County, 18 February 1939 — Page 3
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THE UATLY"' BiXTERJ OBEBNCASTLEv INDIANA, SATURDAY/ FEBRUARY .18, 190^.
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Attempts To Maintain Values
\ \N( K OF NEKIHBOROI> A.M> PROPERTY STANDARDS AIMS the piediction of buiklinijspokesmen that 1039 will £. inert as s in low-priced-irnstruction, much of which generated by the Federal Administratioai’a Insured System, Administrator McDonald this week declarthe anticipated increase will l\v iy destroy ‘‘prepared marmer: expensive homes or ^e with existing- property valrpetuation of property and EiIn,<d values is a major obJ i : the Federal Housing Adla ion, Administrator McDon-
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ARLY MADE IT! it a miss is as good ns a |e, Joe—as we’ve learned the coal husiness. Many a 11 purveyor comes “close” the excellence of our coal, I our customers tell us it our coal Is there and pr which makes quite a fcrence. Aicas-Collins COAL ^u ranee Real Estate Phone 255
aid continued, and the fact that a large proportion of the business transacted by the FHA involves insurance on refinanced mortgages pi'accs .tdditional str ss on the maintenance cf neighborhood and property standards. Protected Neighborhoods “On; of the first requirements th" ; FHA places upon a home cn which mortgage insurance is desired is that ! it shall be in a protect'd neighborhood,” Mr. McDonald said. Th t i a neighborhood wherein houses must conform to such a standard of construction as not tc detract from the value of neighboring structures. "Obviously, therefore, if we agreed to insure a mortgage on a $2,000 house tc be built in a $r>,000 neighborhood, we would not b * protecting property value- For a mortgage to obtain a h gh rating for FHA insutsne', the house must conform in size and type with those adjacent to it. If it does not so conform, it is rated down. Our underwriting procedure provides for this. Died Restrictions Protect “So far as ‘prepared markets' are concerned, there is little likelihood of thi low-priced home affecting the value of more expensive dwellings, as deed restrictions generally provide adequat” protection. “It is also possible that low-priced homes of today may be in every wav suitable to neighborhoods where existing hoards were built at much greater cost. A home built today with equal if not groiter comfort beauty, and efficiency may possibly cost less than a home built during! 1929. Where this is the case, construction of more reasonably priced homes will in no way detract from existing values.”
Stone and Wood Give Charm
OUTLETS INCREASING IN IMPORTANCE NOW The current trend away from at-
Monthly Tax Payments Relieve Buyers Of Strain On Budget
The charm of a small cottage is blended here with the rugged dignity that only stone can give, with the result that a distinguished home is evolved. The double window on the side not only provides the living room with another exposure but also serves as an effective architectural feature. The lengthwise garage gives the house an appearance of breadth and provides a balance for the center wall of stone.
More than 320,000 families who have financed their homes under the FHA’s insure '.-mortgage system will remember the usual annual tax-bill day only by a “paid-in-full’’ receipt. Foi them there will be no strain on the family budget, because the Federal Housing Administration roquires that taxes be paid in monthly installments along with payments for mortgage interest and principal, in a manner comparable to monthly settlement of telephone, utility, and toed bill ■. Apart from putting the payment cf taxes on a basis with other family expenditures, the FHA system serve; as an^effec live aid to municipal an ! state tax collecting agencies, while at the sami time eliminating a majorthreat to the security of home ownership from delinquency. Mee Taxes Monthly “In establishing this system of meeting tax payments monthly,” Federal Housing Administrator Stewart McDonald said, “our major concern, naturally, was to protect the Mutual Mortgage Insurance Fund, out of which losses must be paid. It follows, th; refore, that any hazard to the security of home ownership must be eliminated under the FHA plan wherever possible. Delinquent taxes always present that hazard, because home buyers sometimes find it impossible, certainly always inconvenient, to produce substantial lump
sums for tax payments each year. “The home buyer- making regular monthly payments which cover not only interest, principal, and insurance hut taxes as well does not face the same problem each year as the heme buyer who receives his tax bill annually and is compelled to pay up or- be delinquent. Most other living expenses are settled monthly, and there is no reason why tn\es should not be paid the same way. Under the FHA plan they are. “This simple requirement for monthly tax payment accounts for the prompt transmittal of millions of dollars annually to municipal, county. ami state collecting agencies in J taxes on homes finance i with FHAI insured mortgages. This figure, of course, will Increase matei tally as the years pass, for it is based on our current business.’’
INSURANCE — All Kinds of Reliable Insurance. REAL ESTATE—Desirable Dwellings and Farms. CENTRAL Insurance Agency, Inc. Central National Bank Bldg. I’hone 91
Oneal Radio Service Radio installat.on, repairs, and service. Tubes tester!. 9 OLIVE ST. RHONE 371 I
Vloob-planA ■~‘ Lt
fcst, busiest, cheapest workers in town—
Banner want ada
> BUILD
tached lighting fixtures has increas- 1 ed the importance of the locations of wiring outlets, an ample number j of which must be provided to care for movable lighting fixtures. The Federal! Housing Adrmnistra- j lion recommends that the outlets be ! strategically placed to pr ovide con- , nection for a sufficient number of j lights and other appliances to eliminate the nuisance of trailing extension cords. Where attached lighting fixtures arr used, prospective home owners are warned against extreme styles, as they decline rapidly in value due to the whims of fashion. Simplicity of des'gn should b sought
MODERN HOME HEATING EQUIPMENT KFFH IFNT
INSURED MORTGAGE HAS MAN\ FEATURES Among the features of the Insured Mortgage System of the Federal Housing Administration arc: il> Lower financing charges; <2i longterm loans extending in some cases up to 20 or 25 years; '3) advancement by the lender of a large part of the total value rup to 80 or 90 per cent, if circumstances warrant); <4r repayment in monthly installments, about like rent, suited to the borrower’s income; i5> inclusion of taxes and fire insurance in the monthly payment; '6' elmination of second mor tgages and the nee I for periodic and expensive refinancing; i7> protection of the lender by a system of mutual mortgage insurance; 'Sr improvement of housing standards and condition!!.
re’s What « Pay—
You Can Bu.lti a $5,000 Home With e Down Payment of Only $500 and Pay the Rest at the Rate of
89c A DAY!
includes Payment on Principal, Interest and Premium
1 uraliy you want your homo to look as -prosontablo as ssiltlo for your own satisfaction as well as investment Jesibilities . . . nml you want your family to enjoy the lost in modern, comfortable interiors. u can liavp these things in 19.‘k) with a minimum outlay cash, for this is the year of years for remodeling or gilding. Many families with extremely moderate means taking advantage of low construction costs and long PITA loans to turn their old fashioned homo into a dern dwelling. You can do the same. Begin today to r your plans for remodeling or building by getting in jeh with Allan’s for full low cost particulars. FOR COMPLETE DETAILS AND INF0RMAI0N ON HOW TO REMODEL OR BUILD YOUR (OWN HOME WITHOUT A LARGE AMOUNT OF 3ASH OR INCOME AND PAY THE REST LIKE IENT CONSULT ALLAN’S. NO OBLIGATION.
Modem heme heating equipment provides a number of attractive features. as compared with methods in use in the past. Th now heating plants, according to their developers, furnish better j and more uniform heat and thus more uniform comfort, utMize less i space and require loss effort to manage, and may be operated on considerably less fuel than the methods j in use years ago. On' of the features of the Prop- , erty Improvement Credit Plan of the | j Federal Housing Administration : s the provision that funds for the installation of modem homo heating ; equipment may be obta ned from lending institutions qualified under j the plan.
WINTER BEST TIME TO REPAIR FLOORS Winter is the Irest season for a homo owner to repair cracked flooring, because at this time the wood is thoroughly dry. In repairing cracks, one of two methods is usually empiloyed. The cracks may be, filled with >1 paste of glue and sawdust, or hardwood strips may be placed in them. When new flooring is necessary i funds to carry out the work may be-’ obtained from lending institutions qualified by the Federal Housing Administration under its Property Improvement Credit Plan. WATER SOFTENERS REDUCE CORROSION In many sections of the country the water supply contains elements j that have a corrosive effect on , plumbing. 4 , In such cases, water softeners may be installed that will remove hard
substances. Funds for the purchase and installation of such equipment may be obtained from lending institutions qualified by the Federal Housing Ailministration under its ^ Property Improvement Credit Plan. !
PRIVACY DICTATES BEDROOM LOCATION
privacy should be the important consideration in the location of bedrooms in a home, according to Federal Housing Administration ciffi- i cials. They should open directly on n common hall, without the need for passing through any other rooms. | Openings should be planned to pro- j vide for proper placement of beds 1 and other furniture. Adequate ventilation is essential. | and -airtight should be afforded at | som time during the day.
lirmi soft hut scientific Illumination . # . TT with electrical household helps that free the homemaker from drudgery. Ask us about the FHA Plan for modernizing your wiring and making other home improvements —with snndl monthly payments. Moore Electric
17 E. Wash. St.
Phone 72
HIBLtVSMMBkaS
HALE »>l HOMES IN SURVEY MORTGAGED There are mortgages on over one- i half of the owner-occupied singlefamily structures among the 8.000 - ! 000 included in a governmental survey of dwelling units in 203 urban | areas More structures are mortgaged I in northeastern cities than elsewhere.
So You’re Scotch?
Very thrifty about ear expenditures. huh? Mister, you're the kind of customer we like to get —because we know we can please you. Our electrical and radio repair work is not only inexpensive—it's right — and that's the answer to your prob-
ALLAN 1 b & e
LUMBER CO., Inc.
N. Indiana Street
Phone 403
ELECTRIC SHOP 505 E. Hanna Street Dallas Bee - Robert Eltcr PHONE 71
install A Sanitary Toilet Protect your family’s health. Improve your property and Community. All you pay for is the material. CALL 32 OR WRITE PUTNAM COUNTY COMMUNITY SANITATION North College Ave.
I. Ins. Fully Says: h “V\L you buy fire insurance, you’re buying the promise of an insurance company to stand between you and loss in case fire strikes. It's all you've got for your money — a promise. It certainly pays to place your insurance with a company that you know stands by Its word. “That’s why I do all my insurance business with the Hillis & I^atkin Insurance agency. I know they represent sound, stable companies—that see that my insurance is right—that it fits my needs and that I understand exactly what my protection is and how far it goes.” Hillis & Larkin INSURANCE AGENCY 20 S. JAC KSON ST. Phone 826 W
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REMODEL
Enjoy the Comforts of a New Home! If your home is old and out of date, hut is sound structurally, you can very easily and quickly convert it into a homo that is really modem . . . it’s like having a new home for a fraction of the cost.
THE COST IS SMALL EASY TERMS You can afford to remodel now — Material and labor costs are down . . . payments to salt your purse can be arranged . . . every dollar spent in modernizing means two dollars in added value.
Come In or Call Today—Get Plans and Suggestions With No Obligation METZGER
f-i Lumber Co.
:4W
117 W. Franklin St.
Phone 262