KENTUCKY REPORT

cecudw vlcr proldrnt

luff.:i3"Jf,,Y,'#"T'iJffifr;

mortgage plan. Well, it has taken over in a strange way in Canada where the newest rate in mortgage financing is weekly and bi-weekly mortgage payments.

They have been talking about this for a long time, but one of the large mortgage companies last week became first to give borrowers the option of making weekly payments instead of the unsual monthly ones.

Industry officials doubt that any big U.S. lender is considering offering that option now but that could change. The U.S. Savings League is saying "we're looking at the idea really hard because of what it can do to help the affordability of housing. It's on the top of our priority list. "

It's too soon to tell how home buyers will greet weekly and bi-weekly payments, although reguests for information have been heavy.

Many do not expect the idea to spread to the U.S. as the two markets vary in many important ways. As an examPle, Canadians have more incentive to reduce the interest they pay on mortgages. They can't deduct this from their income taxes.

Bulldlng Produclr Dlgcrl

But speaking of new ideas they had one down at Houston reccntly, dcsigned for couples betwccn 28 and 34 that are planning families. The homc has the usual fcatures, 3 bcdrooms, 2ll baths, 2 car garagc, full size lot. It is a 15fi) sq. ft. home that is affordable, but that is where thc similarity ceases.

Most striking is the absence of interior walls. Kitchen, dining, family and living area are in one room. lt has a l0 ft. high ceiling on the frrst floor and a single white column in the center. The second floor has many novel features but they really splurged on the master bath, with its double pedestd vanity, gold plated faucets, shower stall and whirlpool bath. Its affordability is due to the small size. Instead of 2348 sq. ft., it has 1500.