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Story
August 4, 1933
Henderson Daily Dispatch
Henderson, Vance County, North Carolina
What is this article about?
In Vance County, appraiser A. B. Wester reports being overwhelmed with about 50 requests and a dozen applications for Home Owners' Loan Corporation government loans to save mortgaged homes. Attorney A. A. Bunn assists. Experts note the law's incompleteness and obstacles, requiring a photo of the home.
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MANY ARE ASKING
LOANS ON HOMES
Number of Applications Filed in Addition Numerous Inquiries
A. B. Wester, who is appraiser for the Home Owners' Loan Corporation in Vance county, said today he had been swamped with applications and requests for information as to the method of procedure in obtaining government loans to save mortgaged homes.
Mr. Wester said that there must have been 50 requests so far, and that probably a dozen applications had been filed with him. He places an estimated value on each property, while A. A. Bunn is attorney in this county for the corporation, which is under direct government supervision.
Those who have made a study of the new law are of the opinion that relief under this act will be difficult because of what is looked upon as the incompleteness of the law. It is felt that it is hardly specific enough and does not go far enough, and at the same time has obstacles that are difficult to surmount.
One of the requirements for filing an application is that a kodak picture of the home on which securities will be taken must be furnished with the request for loans.
LOANS ON HOMES
Number of Applications Filed in Addition Numerous Inquiries
A. B. Wester, who is appraiser for the Home Owners' Loan Corporation in Vance county, said today he had been swamped with applications and requests for information as to the method of procedure in obtaining government loans to save mortgaged homes.
Mr. Wester said that there must have been 50 requests so far, and that probably a dozen applications had been filed with him. He places an estimated value on each property, while A. A. Bunn is attorney in this county for the corporation, which is under direct government supervision.
Those who have made a study of the new law are of the opinion that relief under this act will be difficult because of what is looked upon as the incompleteness of the law. It is felt that it is hardly specific enough and does not go far enough, and at the same time has obstacles that are difficult to surmount.
One of the requirements for filing an application is that a kodak picture of the home on which securities will be taken must be furnished with the request for loans.
What sub-type of article is it?
Historical Event
What themes does it cover?
Recovery
Misfortune
What keywords are associated?
Home Loans
Government Relief
Mortgage Applications
Vance County
New Deal Program
What entities or persons were involved?
A. B. Wester
A. A. Bunn
Where did it happen?
Vance County
Story Details
Key Persons
A. B. Wester
A. A. Bunn
Location
Vance County
Story Details
A. B. Wester reports high volume of requests and applications for government loans via Home Owners' Loan Corporation to refinance mortgaged homes; law seen as incomplete with hurdles; requires home photo.