The Western news. [volume] (Libby, Mont.) 1933-current, 1933-07-20
1((oIE'iai { }||Slii@1Ie( 7
National Topics Interpreted q ulllQl1Z
by William Bruckart <S<n<u1mn
by William Bruckart

tho bonds Ia somewhat better than
avarape when 1t is remembered the
interest will be paid by the govern
ment IF not otherwise. Ihe mortgage
holder obtains long term bond, ne
ia freed from the necessity OF making
advances to keep the property III
shane or pay taxes, etc.. and he taxes
only the usual chance on the princi-
pal.
Now. from the standpoint or the
home owner. there Is the probability
that the home owners loan corpora
tlon will be more lenient In the matter
of enforcing the terms OF It's mort
pape nv foreclosure. which 1t wouid
have the right to do. That ought to
make home owners feel more secure
The mortgage holder has another
alternative. He may borrow up TO 50
nor cent of the value Of the properly
and give the home owners loan cor
noration his mortgage as security.
When the home owner seeks 70
use the home loan act prIvllges, he
gets benefit In the
NJ, Pm shape of postpone
ment OF the matur-
a itv date of his debt.
| That Is, there Is new mortgage wiz
ten and 1t may run as long as nfteeh
wears IN addition. II the home own
ars, loan corporation agrees, the nome
ounar may be allowed what amounts
RI a moratorium In the payment Oh
either the interest or any instaiiment
on the principal That gives the nome
owner breathing spell so that II, TOT
axamnle. he Ia out OF Job but MS
reputatIon for paying his debts 10
rood. 1t is not necessary 1or iini "
lose his home.
Then. the home owner can obtain
funds from the corporation withou.
the necessity OF paying, Q commission
70 ANYBODY. and say what you Will,
! those commissions for obtaining .
loan are 4 burden The law makes
sure there will be no commissions
etHfred by making such an ACT
crime. - i,
= Another available UcnSh1 - -
. v,dad for the home owner In the pro-
4 vision allowing him to pay on paIl
o ~ al, Of his mortgage with Dohus
1 - tha home owners loan corporation.
d r. NAV be readily seen that u W
d arv chance the bonds OF the corpora.
q tion should sell below par. DorroN s @
t. wight ne able to buy the bonds, say
h :, az ner cent OF their value and turn
Is tbam4In=a t=l0o per cent OF course
d. everybody here connected win az
1t roIn,stration OF the act insists tina
H. sha bond price will never fall peios
ID par, yet there are some ~ho 'A'D'
I'd that condition may eventnate.
an hone In q few weeks to De aDi
- aacuss the set-up arranged Dy u
on ownrs, loan corporation Q
We which home owners can take aus "a
he tage Of the legislation's terms.
Is machinery is being created $40"
ed ana q "a obvious why that Is SO .
nat causa there will be two agents OIL y
re- hora loan board In virtually oso'
lop o,rtv of the nation. They VIII
on the point OF contact for the lnulsluu
II home owner and 1t will be from lio
the auants that all necessary details =
two No ascertaIned and with them u
Oh individual problems may Do soi''
elf
Tho farm loan structure ~ SUI
uon that further advanced. Inere !"
onu sana machinery already In existel
an. - 200 under the terms OF that
and Henry Morgenthau. Jr., the ~
ex- a~adit administrator, Is getting tni'
tion- IN shape so that his organization :
time will he making loans op farm ial
I'd In ="
:. ~ - wa have Just witnessed the unl
e.a+os treasury adopt new sys
- ~ a'N OF reporting Its
o,as rDTreasury dition. 1t Is requl
cias. by the Constitu
reul'' ofdfeneH1s and by law to m
eou nnh,,c statement of Its receipts
-pon. nand,tures and daily staten
a"A - thasa items has been issued
Q has OF THESE l'1no o.~s Now
. ron. slstently for many years. Now
xhat aver the statement has aPpS1A =
thaIr ! new suit of clothes. and an exp
nort. ton OF why this has been done
have pears to be important
s,tua. For the first time In the hlstoi
+ the this government the treasury acl
tarast Is running double budget BY
That is, 1t is segregating 10 on
: and ~ accounts all Of the regular
,a,, az nendItures such as salaries lana
nust nary running expenses. In an
ntunc. set Of accounts. 1t Is listing ID
~ the called extraordinary expenditure
- MN those items are the long list OF
payments, the emergency constf'
.urrap. axnenditures, the payments 70
! homo ars for crops destroyed, ana
ofliclal outgo OF similar character
II han have heard both criticism
~.oraotfop nf the new policy.