Evening star., 1946-03-21
Letters to The Star
Offers New Proposal to Aid GIs
To Obtain Homes
To the Editor OF The Star:

To the Editor of The Star:
Under the GI Bill of Rights those able
to take advantage of the education pro-
visions are given an outright grant of
$500 year plus $3.50 to S., ,080 a year for
subsistence. Also, under the same bill,
the CT wishing to buy or repair house
can have a loan guaranteed up to
$4,000, provided he is capable of match
ing the guaranteed loan dollar for dol
lar with his own resources. These pro-
visions, as thousands of GIs have found,
do not give relief or assistance to the
vast majority of World War II veterans
who are not in a position to further
their education and who have abso-
lutely no resources with which to fur
ther their dreams of homes, due to
years of meager enlisted pay and de-
pendency requirements.
AS a supplement to the Veterans
housing bills now before Congress, this
great Nation could make a sound in
vestment in the health and well-being
of its soldier-citizens by providing the
force necessary for boot-strap lifting
operation. This could be done by en-
acting law permitting any honorably
discharged serviceman who has served
overseas or who has served for one year
in this country during the period of
hostilities of World War II to borrow
from the Government at per cent in
terest up to 20 per cent of the money
necessary for home for himself and
his dependents, principal and interest
to be repaid in monthly payments over
a period of 20 years, such loan not to
exceed $4,000. There should be no
paupers oath attached to this measure.
With such loan as a basis the home
seeking veteran could proceed with his
building plans through the usual chan
nels OF the FHA or through a private
finance company. The special CT loan
should be in the nature of a second
trust upon the property. Resale could
be limited to the original value of the
property to prevent speculative interest
IN the transaction. Also, resale could
provide that the special GI loan must be
lquldated as part of its terms un-
less the resale was to a veteran eligible
to take over under its original terms
A veteran should be eligible for two
successive special GI loans, not con-
current, provided he had not defaulted
upon the first, in case personal or job
opportunities made a change of resi-
dence necessary.
have no personal interest in this
matter as 1 own my home and am not
a house builder. My service as a Sea-
bee officer brought me in close contact
with many servicemen and I believe
there is a gap in the presently proposed
legislation which must be bridged be-
fore all the well-intended plans for
alleviatlng the veterans housing prob
lem will result in the fruition of his
dream of home. If it should be said
that this plan would have too little
security to validate it, I would reply
that I believe it would be firmly based
on the good faith and integrity of the
average American GI and that it offers
more security than was asked from the
veteran when war equipment costing
many thousands of dollars was placed
IN his hands to repel and overcome our
enemies. He did not default then and
he will not now.
Should We have less faith in an in
vestment in the future of our veterans
and our countrys progress than is pro-
posed to be placed in that of England?
GEORGE F. WILCOX