OCR Text |
Show Page 6b Vie I'tah Enterprise Review, March 16 , 1977 FNMA Urban Loans good grooming... its Solution to Crisis worth planning for Continued from page lb about buying home improvement loans as well as mortgages. We are thinking of buying long term home improvement loans, amortizing them so they are below the present market interest rate. We think this might stimulate people tow ard moving to the city. he says. At Cantonwines Hair Design, we know the value of good grooming. So do our patrons. We develop a personalized hair care program for each, and we take it very seriously. PERSONALIZED HAIR CARE PROGRAMS EXPERT PRECISION AIR STYLING "This QINrGNWINE'S St- J- SUITE 1864 SOUTH STATE' (McKinley square) SALT LAKE CITY. UTAH' .. . VA"- r-f"- T; - 'AA-' - x v K i '.'6S. FOR APPOINTMENT ' Jg467-205- not just a lender problem, he This is a people tinues. problem. People have to be motivated. We need investment by cities; wre need con- 265 V ; is ' V $ a schools, services, public 1 w'orks. Local lenders seem be cautiously optimistic about FNMAs proposal. Hayden Calvert, senior vice president of Prudential Federal Savings, says FNMA has not always been in a posture to buy mortgages for urban homes and, for that reason. Prudential only recently began selling such mortgages to the corpora- tion. He speculates the procould be posed program it very helpful, if were realistic. Sugarhouse Targeted A t tel a .!i greater number of young families are buying older homes in Salt Lake City, he says, because its the thing to do. He points, m ri ,id to in particular, to the Sugar-hous- e area. We will see 0' " My - t' Jl 3&JHI THE GREAT EMPLOYMENT AGENCY M ! Promises, Promises Ait employment service should advance your interest. Advance Careers guarantees it. WE HAVE A PRE-SCREE- N RESUME ON THE PERSON YOU NEED YOU WONT SEE MOST OF THE APPLICANTS WE INTERVIEW Pre-screeni- ng Testing Facilities CALL US, WELL DO THE WORK. WE CARE Advance Careers. Inc. ! Advance 1399 South 700 East. Suite 4 Salt Lake City, Utah 84105 Telephone: 486-575- 3 Building Better Business with Better People that area upgraded considerably, because of this new movement. As we see more acute energy problems and transportation gets more expensive, these people are more likely to buy an old bungalow than move to West Jordan. I see a very healthy he conthing happening, tinues. Its for economic reasons, and also because its the style. There is no question about it. This is definitely happening in Salt Lake City. The local trend, he says, began in about 1970; but it has been happening increasingly faster since then. Members of his own family recently bought a house in the Sugarhouse area. With the sweat of their brows they put in a new kitchen, tiled the bathroom, installed new carpet, finished the basement and painted the house. And they are not alone. About 50 percent of the houses in the neighborhood are going through the same thing. People are doing this instead of buying a new house, he says. Norval Lambert, ' vice president of First Security Banks mortgage department, says he thinks the local lenders need FNMAs We are in a capital help. poor area, he says, and lenders here are always scrambling for money. FNMA impact vitalize money can make a viable here. They could the effort to lend for urban homes. He adds that although lenders need to do their part, the people also need to participate in the effort, and enforcement agencies need to do a better job. With the combined efforts of lenders, local government officials and FNMAs Urban Lending Program, the growing number of young, middle-incom- e homebuyers who prefer older urban houses may soon revitalize Salt Lake Citys tax base as well as its spirit. |