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Show War Veterans Warned Aurainst Hasty Purchase of Dwellings With the current high prices of property, war veterans may seriously encumber themselves with bad investments unless they consult competent advisers before borrowing money from the government under the Gl Bill of Rights, in the opinion of Miles L. Colean, former Assistant Federal Housing Administrator. Caution against undue haste in taking advantage of federal fed-eral loans for veterans is urged by Mr. Colean in an article in the May issue of House Beautiful magazine in which he explains in non-technical language just what home loan benefits bene-fits our veterans are entitled to. Mr. Colean points out that vet-S erans who want loans under the Gl Bill of Rights do not even have to deal with the government direct, but may transact their business through their local mortgage mort-gage companies. In warning against hasty and perhaps ill-considered investments made with such, loans from the government, he says in part: "In many part of the country, now is a dubious time for either buying or building. The selection is limited and the prices are high. A liberal loan and a low interest rate won't take the curse off an inflated price. There is every rea-. son therefore to be cautious in investing in-vesting in a home." Although the Gl Bill of Rights stipulates that applications for such loans must be made within two years after an honorable dis charge or two years after the "ter mination of the war," whichever is the longer period, Mr. Colean points out that this provision should be no cause for undue haste in applying for a loan. "Fear of missing the advantage provided by the law should not be made an excuse for haste," he states. "Terminating a war, even after hostilities cease, is apt to be a lengthy business. It may be recalled re-called that while hostilities ceased in 1918, the last war was not 'ter minated' until 1921." |