The border vidette., 1933-12-09
5 MILLION FOR HOME OWNERS

Office Of the Home Owners Loan
Corporation by December 10.
according TO Roy Wayland, man
ager OF the agency.
This amount will continue to
be sent out each day until next
April when $5, 100000 will have
been advanced by the federal
government to save home own
ers from mortgage foreclosures.
| Appraisals have been made on
homes whose total value ia in
excess of 100000, Mr.. Way
land announced today. On more
than halt Of this amount, pre-
liminary approval OF loans has
been made.
The Home Loan Corporation
like other governmental agen
cies," said Mr.. Wayland, has
been somewhat slow in getting
started due to the thoroughness
Of the procedure which must be
followed. Bat now we have
reached the poiut where tangi
BILE results are about to be
achieved"
!. Loans of more than 500, 900
have been made to date totaling
| in excess of 100000 have been
paid on homes in Phoenix and
Maricopa county.
Part Of the delay is attributed
to the discovery that titles to
many pieces of mortRaged prop
erty are not clear and in a nun.
Der Of instances cases must be
taken to court for fnal determin.
alton.
MIR. Waylsnd left today for
o tour Of Pima. Cochise and Santa
Cruz counties to appoint depu.
ties to investigate loan applica
! tions for approximately $4,000,
600.
Pima and Cochise will have
three inspectors esch, while San.
ia Cruz will be apportioned two.
Attorneyships will also be ar
ranged to speed the closing of
loan requests. Mr.. Wayland said.
! Pima county, having 900 ap
plications. has q total of 81 800,
600 loan requests filed by home
owners. Twenty three titles
are ia order for immediate pay.
ment and $50 appraisals have
been made.
A total of $500, 900 is asked by
800 applicants in Cocbise county.
In this district. 33 titles are ia
order and Is appraisals are com
plate, Mr.. Wayland said.
| Santa Cruz county, having 200
applications involving $500, 600,
has IL titles on file and 60 ap-
prsisals completed.
Mr.. Wayland's trip to south
ern Arizona will require several
days and complete arrangements
for the rapid granting of loans
in January and December.
Twenty five loans daily will
be issued by the Phoenix office
by December 10, MIR. Wayland
estimated, while the volume il
expected to reach the 5Oa- day
mark BY January l.
| Mr.. Wayland revealed that
Arizona has 100000 homes of
As, 900 are occupied by individu ual
owners. OF this number more
than Is per cent are morteaged,
Maricopa county has 35 per cent
of the bones in the state.
Agents of the Arizona agency
Of the Home Owners Loon corp
eration," MIR. Wayland said, will
go into every part of the state to
help home owners in financial
distress. A majority of those to
be helped are old time residents
OF Arizoua, many OF whom have
bad incomes materially reduced
in the last four years. Through
the funds advanced by this
agency these residents will be
able to keep their homes by
wor king out g basis upon which
mortgages can be lifted.
The more we observe OF the
operations of the Home Owners
Loan corporation the more con
vlnced we are that it is perform
ing world of good ia every
community 10 the United States
and it's creation was one Of the
most beneficial pieces Of legisla.
tion passed by the last con.
gress"
Why pay 10 cents gold for
nice cool "foaming" elsewhere,
| HTyI