Thank you for visiting SNEWPapers!
Sign up free
Mcallen Daily Press
Mcallen, Hidalgo County, Texas
What is this article about?
J. C. Anderson, Texas HOLC State Manager, reported in a broadcast that 36,549 Texas borrowers are on track or have achieved debt-free home ownership, with $28M repaid and monthly payments of $666K.
Clipping
OCR Quality
Full Text
AUSTIN, April 2—J. C. Anderson, State Manager of the Home Owners' Loan Corporation, said today in a broadcast of the United States Government Reports weekly series presenting the Federal Government Agencies, that 36,549 borrowers from HOLC in Texas are "clearly" on the way to debt-free home ownership, or already have achieved that goal.
Anderson estimated that about 2,846 families in this state have paid off their debts to HOLC in full.
He added that 33,703 other families are either paid up to date on their monthly bills, or are less than three months behind, or, in addition to meeting their monthly payments in full, are paying regularly each month to wipe out arrears they had accumulated earlier.
"In all," he declared, "Texas borrowers from HOLC have paid back $28,165,984, or approximately 27.3 per cent of their entire principal indebtedness. Payments of principal and interest in this state are coming in at the rate of $666,209 a month."
Anderson asserted that during the past year, HOLC has adjusted about 700 loan contracts in Texas to allow a longer period of payment.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Domestic News Details
Primary Location
Austin
Event Date
April 2
Key Persons
Outcome
36,549 borrowers on way to or achieved debt-free home ownership; 2,846 families paid off debts; 33,703 up to date or less than three months behind; $28,165,984 repaid (27.3% of principal); $666,209 monthly payments; 700 loan contracts adjusted for longer payments.
Event Details
J. C. Anderson, State Manager of HOLC, stated in a broadcast that Texas HOLC borrowers are progressing toward debt-free home ownership, detailing repayment statistics and loan adjustments.