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Show The Magna TimesWest Valley T MaicH 7, 3002 New, Business Utah Housing to finance loans for A gradual upturn in the economy and low mortgage interest rates are prompting more Utahns to seek financing to buy their first home. The Utah Housing Corporation has released $25 million in bond st funds to finance 230 home loans. This is particularly good news for lower-incom- e residents. It means that they have an opportunity to take advantage of the good rates in order to have a home of their own. The UHC interest rate on a fixed rate loan is 5.95 percent with two discount points and 6.25 percent with no discount points. UHC interest rates are typically one full percentage point below conventional rates. In addition, UHC's First Home Plus program provides assistance with downpayment and closing costs, which are often the biggest obstacles to home ownership. According to William Erickson, President of the Utah Housing Corporation, the benefits of buying still outweigh those of renting. "Renting a place to live doesn't offer the long-terbenefits of home Erickson said. "When ownership," a house, you purchase you immediately begin earning equity, building credit, and establishing long-terstability and security." , In spite of the boom in Utah's The average purchase price of a house in Utah is $160,000, which is $40,000 more than the national median average. The typical UflC loan applicant's household income falls between $25, a 000-$40,0- low-intere- . 'With UHCs low interest rates, more people can afford to buy; which stimulates the home-buildiindustry and creates more construction-rjobs," Erickson'said. elated home buyers me Agency, is a public, nonprofit corporation that offers multiple resources to develop and finance quality, affordable housing for low and moderate-incom- e people across the state. home UHC finances e, loans for thousands of first-tim- e buyers through the sale of bonds. UHC also utilizes state and federal income tax credits to finance the development "It's a boost to the economy that benefits all of us." To qualify for a UHC loan, an applicant's income must not exceed a certain level. Applicants should also have a reasonably good credit rating, purchase a modestly-price- d house and be able to afford the expenses associated with owning a home. The Utah Housing Corporation, formerly the Utah Housing Finance low-intere- st low-incom- pt and rehabilitation of affordable rental housing. Since it was founded by the Utah State Legislature in 1975, UHC has provided funds for more than units. 65,000 single or multi-famil- y For more information on UHC mortgage loans and a list of particior pating lenders, call toll-fre- or visit e the UHC website at Finance help a click away Money getting you down? 30-ye- ar m , year. low-inco- p Online store offers materials and expert advice self-hel- Debt collectors are one of the main reasons people experi- . . m . housing market, may lower-incom- e people still struggle to qualify for a home they can afford to buy. The state's lower wage scale and higher home prices hasn't helped. encing moneyproblems become depressed and never take action to resolve their problems, said Steve Rhode, president and cofounder of Myvesta.org. The stress of collection calls causes people to shut down and ignore their money troubles. That Only makes things worse h ' Myvesta.org, the nations only financial crisis and treatment center, has opened a new online financial help store at MyvestaStore.org. Its the first and only online store dedicated to debt help. One of the most innovative products available on the . Myvesta.org online store is a ' new audio tape designed to help people handle the stress that debt collectors can cause. ly disappear. Feelings For families and individuals tering on the financial edge, the stress of everyday life combined with large amounts of debt can be too much. Money is a powerful tool often used without caution, said Steve of Rhode, president and the nations only Myvesta.org, financial crisis and treatment center. A lack of cash or trouble paying bills can lead to serious depression and anxiety, only compounding financial difficulties. Without a clear direction and positive support, emotional problems combined with money issues can spiral out of control. Money problems turn into life problems very quickly, especially when depression or emotional turmoil is taken into account, said Rhode. Dreams like home ownership or providing your children tee- self-hel- One-on-o- with a college education can Depression and anxiety follow many financial problems The audio tape titled Take Control of Debt Collection Calls provides positive motivation and affirmations to help people overcome their fear of collection calls. The tape also contains subliminal messages empowering individuals to take charge of their situation. Our new online store provides people with a way to get help quickly and easily when facing financial problems, Rhode said. We have publicap tions to download, audio tapes and books that can be shipped and support groups in which to participate. financial help is also available. Its like an information center for people experiencing money problems. At MyvestaStore.org you can also sign up for free money tip emails and take a money personality test. ne quick- of helpless- ness often accompany financial difficulties, which in turn cause the inability to take action and make problems much worse. To help those suffering from d emotional issues, released a publihas Myvesta.org cation called Money and Stress: How to keep your money worries from killing you. The publication is part of an array of Myvesta.org products focusing on the emotional side of debt. It covers the symptoms of depression and generalized anxiety, while helping to get to the root of common disorders associated with financial problems. It can be downloaded by visiting Myvesta.org, or mailed by sending $5 to Money and Stress Publication, Myvesta.org, P.O. Box 8587, Gaithersburg, MD, 20898-858money-relate- 7. Business Directory call To place your advertising, 250-565- 6 grand Opening! TJgHEKLY tAlVMCAKE : TOUSMM, AisTOnM. Mm g mm i 4 Plumbing won't work? 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