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FHA Should Be Permitted To Inrure Moftsases Up To $2O000
Washington, lan. 25-FHA should be-permitted by Congress to insure mortgages up to $20,0(D to enable families needing larger homes to obtain the benefits of mortgage insurance, H. R. Northup, executive vice president of the National Retail Lumber Dealers Association, stated yesterday.
"The existing limit of $14,000 being enforced by FHA, although Congress has authorized loans up to $16,Ofi), is preventing many growing families from obtaining a suitable home in view of today's building costs," Mr. Northup said.
"There is no good reason why the benefits of mortgage insurance should be made available only to those rvho do not need a large home or are satisfied rvith a smaller one, especially in view of the fact that the FHA mortgage insurance program is self-supporting and requires no federal subsidy.
"In many cases, these larger families need the benefits of lorver dorvn payments and lorver monthly payments even more than do the smaller families rvhich can live in less costly homes.
"There also is no reason rvhy dorvn payment requirements on larger homes should be several times as gteat as for smaller ones. A reduction in the amount of dorvn pa1'ment required for larger homes rvould put better housing rvithin the reach of many more families rvho live on modest incomes.
"Despite the fact that one out of every six American families are living in nerv homes built in the last seven years, there still are millions rvho are eager to enjoy the advantages of better housing but have not been able to save up enough to pa) 30 to 4O per cent or more of the cost at the time of purchase."
Iarvi is Supervisor
Simeri E. Jarvi, formerly chief of fire control in the San Bernardino National Forest, in California, has been promoted to Supervisor for that Forest.
RRCC Holds Annual Meeting
(Continued from Page l0) dustries for cooperation in fire prevention rvork during the past year.
One resolution commended Humboldt State College for its plans to initiate a trvo-year course in forestry and lumbering this year. Another resolution commended Cy Bendorf, Scotia, for his contribution to conservation and 6re prevention through his regular radio "Logger-Lumberjack" shorv rvith station KIEM, Eureka. The Council also voted thanks to region nervspapers and radio stations for cooperation received during the past year.
The meeting was concluded rvith a reception for the nerv president at 5 P.M.
The Redrvood Region Conservation Council is jointly sponsored by the public and rvood-using industries for the purpose of "rvise-use" conservation of forest resources in the redn'ood region. It rvas established in Ukiah in 195O.