Oregon Advance Times_1968-08-01

f Page 6 The Oregon Advance/TIMES August 1, 1968 FHA Counselling Service Available To Albina Home Buyers The Federal Housing Au– thority is holding weekly counseling sessions at the Neighborhood Service Center. Below is a series of ques– tions and answers for pro– spective home buyers. A rep- resentative is at the Center every Thursday from 1-5 p.m. The location is 59 N. E, Stanton. Q-1: Where can l get in– formation about purchasingor renting a home or home im– provements? BARNETT REAL ESTATE Answer: The FHA has a Housing Counseling Service which is available to every- , one. Mondays to Fridays, Listing's Wanted REALATOR 27 N. Killingsworth Ph. 289-7354 8:15 a.m. to 5:00 p.m. coun– selors are on duty at the FHA Office, 520 S, W, 6th Avenue (Cascade Building), telephone 226-3361, exten– sions 1949 or 1950. In addi– tion, for those for whom it is not convenient to come to our office, FHA has a repre- MULLEN'S MOBILE N.E. UNION AND KNOTT Service & Quality Products We Treat You Right! Rembember By Law You Have To Keep R ecords . .. . Harvey L. Rice 1 A full-time trained Area Director 2 Simple, complete pre-printed recoras J Peace of mind and no wory on tax 4 A monthly bulletin service 5 Preparation of your annual income tax Call 227-1818 or 287-2212 We will gladly explain this unique plan without obligation. A SPECIALIZED BUSINESS CONSULTING SERVICE FOR SMALL BUSINESS They're Bigger and Better at the Bun-'a-Burger Delicious Hamburgers 25c Sizzling Fries - Cool Malts 230 North ·Killingsworth - - ~ ---~ TIM and BARBARA HUNTER if WELCOME YOU TO I/ MARTTl'S GARDENS WE NEVER CLOSE • SERVING HOT LUNCHES • FRIED CHICKEN if !l ~1 E_) ~) ~1 OPEN ALL NIGHT - i DAYS A WEEK ~) Top Mushball League each SUN . 12 p.m. 19 BAR-B-Q and BREAKFAST ·11 JOI N THE FUN ANO GAMES AT MARTTl 'S GAROENS • POOL ANO FOOSl:lALL FR IENO LY PEO PL E AND FINE FOOD TOO' MARTTl'S GARDENS ORDERS-TO-GO ~) ~) ~) ~: ~: ~: ~: !~: jj 1 3626 N. MISSISSIPPI TEL 284-9783 ,; ~l!JUQ!.J..l'l1l..11J~JJ'Jll'm~~;~h~:)![f! 1Jj: ~ ~ ~ JJ"j! ~ ~ ~ ~ ~i:1! 'I3 :~' • ©~oorn " WALL • TO • WALL • SOUL" • • • SOUL • FOOD! • • • Jam Session Sun. 6 - 9 p.m. • • 2125 N. VANCOUVER AVE . • sentative in the field as fol– lows: Every Monday, 1:00 to 5:00 p.m. at Brooklyn Action Center, 3707 S. E. Milwaukie Avenue, telep,hone 233-5746; Tuesdays, 1:00 to 5:00 p.m., Richmond-Sunnyside Action Center, 3525 S. E. Hawthorne Boulevard, telephone 233- 5271; Wednesdays, l:00to5;00 p.m., Buclcman Action Center, 1407 S. E. Belmont Street, telephone 233-5426; Thurs– days, 9:00 a.m. to 12:00 noon, Model Cities Service Center, 10 N, E, Graham Street, tele– phone 288-7051, and Thurs– days, l :00 to 5:00 p.m., Al– bina Neighborhood Center, 59 N. E, Stanton Street, tele– phone 297-2603. Q-2: I am elderly and am receiving welfare assistance from the Multnomah County Public Welfare Commission. Can I get assistance in find– ing decent housing? Answer: The FH.A has a Rent Supplement Program which assists by paying a portion of the rent in Rent Supplement projects for eli– gible tenants. The Housing Authority of Portland also has a leased housing program which also provides rental assistance to eligible fami– lies. Q-3: Can a single person buy a home? Answer: Yes - FHA in– sured loans are available to single persons as well as families. Q-4: l have had problems paying my bills and once went through bankruptcy. Would it be possible for me to get an insured FHA loan? Answer: Yes - The fact that you once were having trouble paying your bills does not necessarily mean that you are now disqualified for an FHA loan. If, after a rea– sonable length of time, you have re-established your credit and are paying your bills on time, have the neces– sary income for the required housing expenses and other living expenses, you will be considered for an FHA– insured loan, We will be glad to discuss with anyone the steps necessary to get his credit re-established. Q-5: What are the general requirements for income and credit in order to be eligible for an insured loan? Answer: Have a steady job, be paying your bills on time, and show the ability to make the required monthly housing payments regularly. Q-6: What will it cost me in monthly payments to buy an $8,000 house? Answer: For a 30-year mortgage, the approximate monthly payments will be .as follows: Principal & Interest FHA Mortgage Insurance Premium Fire Insurance Taxes jt Soul Sisters The Puppettes $51.92 3.31 1.00 15.00 • • • • • • • • • • • -ALSO– Me~vin Isley FLOOR SHOW TUES. thru SUN. • ~···~*********************************~ • Total Monthly Payment to Lender $71.23 In addition, monthly costs for maintenance and repairs would be $8.00, and heat and utilities would average $30. Q-7: How do you get the FHA to appraise your home? Answer: You can apply for an appraisal to any bank, mortgage company, or sav– ings association which is ap– proved to make insured loans and handle applications for appraisals. You pay a fee of $35.00 to the lender, who in turn pays the FHA. Q-8: We are a young cou– ple with two small children and are planning to buy a house. When we apply for a home loan, can I count my wife's income as a teacher as part of our total family income? Answer: Yes, if she plans to continue working. Today most lenders recognize that young couples jointly work to afford better housing, to send their children to col– lege, and to acquire other things families need. Q-9: I am 68 years old and would like to finance my home with a loan insured by the Federal Housing Admin– istration. My problem is that l don't have the cash required for the down pay– ment. Can I borrow the amount needed for this? interest rate. Answer: Yes. Under FHA regulations, a person 62 years of age or older may borrow the money needed for the down payment and prepaid items from an individual or corporation approved by the FHA, If the purchaser signs a note to repay the loan, the interest rate on the note can– not exceed the FHA-mortgage Q-10: In buying a home, what does the term '•sweat equity" mean? Answer: In financing a home, sweat equity is the value of the labor performed by the buyer which is used as a part of the down payment toward the purchase of his home. North Clackamas Human Relations Council * * • To Promote Better Race Relation • Employment Opportunities • Better Housing • Education Information Persons interested in attending call: 654-3971 or 771-8833 * * MOTOR TUNE-UP - BRAKES ALL MAKES BATTERIES, ETC. LUBE, TIRES ELI WARD RICHFIELD SERVICE FREE PICK-UP & DELIVERY PHONE: 282-7978 3441 N_ VANCOUVER PORTLAND, OREGON .7-;/ I bored with basics? you're just tlae mun for the NEW NEHRU Slip into on<·. St·t· what a tn·nd-st•tlt'r loob likl' ! This i~n'L j11,t any l'fr hru jackf't .. . it·~ a douhlt·-hrl'aStf'd NC'hru. TIH' la~t word in man-fashion . From S ilton of California in whitt' or /-(old; ~izt·~ :18 to I I. $:12. Sin:rl< 0 -hreasted, $30. Men\ Sporl ~\\Tar. i\I&F Downtown. SC'cond; also Lloyd "::, & Salem. ~e.ittr "&1:-h mail and f)hon e ordl'r.~ • f)iu ., shipping cost to areas outside our re;.:11/ar free delirery routes • t!o1mto1rn. 'l.27--11// • lloy,/"s. :!88-6/i.B • phon e llS early as 9:1 5 11.m. an y busin ess d11.Y