Evening star., 1937-06-29

proportions, he knows 1t will not sup
port the house above 1t. Lumber in
supporting beams Il carefully checked
and must be strong enough to bear the
weight to b carried. And above all,
1t must be properly seasoned and
dried, as otherwise the house IS going
to sag and the walls crack as the lum-
ber dries out. These and many other
construction details from cellar to
garret are most carefully examined.
Now, q second expert takes over the
investigation in order to make an esti-
mate of the market value OF the prop
erty. This entails not only an ex-
animation Of this particular house,
but careful survey of the whole
neighborhood Is it one where prop
erty values are rapidly going up and
speculation exists, or where special
taxes and assessments are apt to bob
up in the next few years? Are schools
nearby and are streets, sewer, lieht
and transportation systems ALREADY
established? II not, these things NAV
mean large extra expenses later. Or
perhaps the neighborhood will be 50
run down by the time you have almost
paid of your mortgage, that you will
want to quit no matter how much of
= sacrifice you will have to make In
order to sell out. Most Of the work
IN this examination is required to
determine what your property will be
worth In the future. II for any one
OF number Of reasons your house
may not be worth at least the amount
OF money you will be owing at any
given time S, 10 or IS years from now
then the examination will bring that
to light and you will be warned
against making an unwise buy.
Third Study Is Made.
While this examination Is in process
still a third study is going on-one
based primarily upon the informa tion
you have given about yourself, your
income and your job. This is tc
establish the relationship OF you,
income to the mortgage debt. Pro-
viding you don't 60 into debt beyond
your ability to pay and you are making
sound investment, there is nothing
wrong in borrowing against the future
10 own a home. Certainly very few
homes would ever be bought il they
all had to be cash transa ctions. Sc
buying home through the right kind
OF mortgage loan should and can be q
perfectly safe and sound proposition
But the type Of mortgage and the
manner OF repaying it. the amount OF
the loan, and the ability of the bor-
rover to pay are OF vital importance
All this is carefully studied by our
experts and you will be prevented
from going into a debt which is toe
heavy for you. So in reality you are
being protected against what in later
years might be the toughest experience
a man can have-the loss OF his home
Now all these reports on your
application are assembled and re.
viewed. The final decision is returned
usually within 10 days or two weeks
to the institution which has agreed
to lend you the money. You then
NIL out the final papers and after all
legal formalities Of title search, re-
cordipg and 50 forth. are complied
with, you move into your home and
begin to pay for it by the month in
exactly the same way you would be
paying yourself rent, because from now
on you are your own landlord.
Specifca tions Checked.
IT you are planning to build a new
home, by all means get in touch with
the nearest lending institution ap-