Show y I r i vi 1 Jenkins Ashton-Jenkins Jenkins Company Has Novel Mortgage Payment Plan PlanA A Plan to Clear Your Mortgage Gradually and Easily If You Live Instantly If If- You Die S For or the purpose e of ot helping people veople of ot I m moderate means to own their own homes a ma ana anS na to relieve the housing conditions with w which the tho country Is confronted th the A Ashton Jenkins company has Inaugurated i its ts mortgage payment plan This plan p provides for tor year ten-year 6 per cent mortgages mort mort- gages ages g on completed homo home properties re repayable repayable re- re p payable by means of ot easy monthly ments Life LUe insurance to the amount of ot t the he loan Is Included to protect the de dependents de- de p pen dents against the burden of ot the debt a and nd to protect the Ashton company com corn p pany any as mortgagee FREES YOUR HOME AND CLEARS T THE HE MORTGAGE IN ANY EVENT At the end of ot ten years jears ears the mortgage will have been paid and the home left tree free f ree and clear The Ute lifer Insurance policy is I s then reassigned to the borrower If It death eath d intervenes during the mortgage pe- pe n od the mortgage Is paid immediately b by bythe bythe t the he lire life insurance and the Insurance money money mon mon- e ey y In excess of ot the debt is Is' paid over to t the he beneficiary Death is the chief hazard hazard haz haz- a ard rd ownership Is subjected to and is per per- h the main cause of foreclosure of ot homes h omes A YEAR TEN-YEAR MORTGAGE MEANS FREEDOM FROM WORRY An ordinary mortgage may fall tall due or orbe orbe be called in at short notice but not the home purchase mortgage It Is a great satisfaction to know that if It there ther has been jio no default the payment of ot ones one's mortgage cannot be demanded for tor ten years earsIn ears In times of ot financial stress It is not unusual unusual unusual un un- un- un usual for lenders who must realize on their mortgages to ask asle payment in full tull i at tt maturity or to ask asle for heavy payments payments payments pay pay- ments on n account The borrower may not be able to replace the mortgage and is III subjected to embarrassment and perhaps foreclosure which might mean loss of ot his property and savings Or in such times it i f other funds can be borrowed bonuses or fr j r exorbitant commissions are usually I Charged for effecting the new loan Joan and not hot infrequently high interest rates are exacted Home purchase frees the borrower from worry and undue expense by avoiding all necessity of ot a renewal of ot making heavy partial or total rep repayment ment or of a change i in n the terms of ot his mortgage n MAKE PROGRESS PROGRESS- PAYS AYS OFF THE MORTGAGE A LITTLE AT A TIME Many men mert would undertake to pay off ort their home mortgage if It they could pay a little ittle l at a time Through the small monthly mortgage payment instalments the loan is paid of off and the thrifty home homeowner homeowner homeowner owner is able to acquire complete owner owner- ship Home purchase helps people of moderate model ate means to help themselves It promotes pro pro- mot motes s thrift independence and self self- respect and puts within the means of ot a vast number of ot people Many rent payers have become owners through home homo purchase HOW MORTGAGE PAYMENT PLAN COMPARES WITH AN ORDINARY MORTGAGE A Mortgage ge Home purchase plan borrower aged 30 Where mortgage runs ten years to maturity monthly payments of ot Mortgage repaid 1752 Less cash value of ot policy guaranteed guaran guaran- teed Cost of ot Interest an and insurance for forten forten forten ten years r 1392 Refunds on policy paid borrower during ten years cars would further reduce c cost st st. Home Free and Clear Ordinary mortgage plan without payment payment pay pay payment ment Six per cent Interest for ten years 1800 St Amount of ot mortgage e still owing I j Cost ost for interest alone without in- in In aurance protection 1800 Added to this are charges for tor renewal or r transfer of ot mortgage during the ten years rears ears Home Is Is Still Mortgaged LEAVE EAVE YOUR WIFE AND FAMILY THE HE HOME BUT NOT THE MORTGAGE Under the Jenkins Ashton company r mortgage payment plan the heirs re receive ref re- re c dye the home not the e mortgage I f i in a the e of T the h bg borrowers borrower's rr er erde de death gg You L I leave eave them a home to live in not a mortI mortgage mortgage mort mort- gage to struggle with The life me Insurance liquidates the mortgage mortgage mort mort- gage age in such a case leaving the home tree free ree and clear It Jt further assures the payment to the b beneficiary of ot the excess excess ex ex- ex- ex cess ess of the poll policy proceeds over the mortgage mortgage mort mort- i gage rage balance Thus home purchase protects protects pro pro- S the borrowers borrower's dependents from I pos possible foreclosure C COMPARISON WITH ORDINARY MORTGAGE If It borrower dies at the end of ot fifth I year rear ear home pu hase mortgage borrower borrowe aged 30 Mortgage end eid of ot f fifth year ear On death of ot borrower mortgage paid Home free and clear Cash paid by Jenkins Ashton-Jenkins to bene beneo fl olary S Ordinary mortgage without repayment repay repay- I ment M Mortgage ge H. H pr Principal P repaid Nothing On Op death of ot borrower balance unpaid un- un n- n paid 0 Home Homo burdened with mortgage M MONTHLY INSTALMENTS The following table Includes the m monthly premium rate rato on the ordinary w whole hole life plan If Ie the borrower desires t to o. o have tho the life Ute insurance policy fully funy p paid aid up at the time the loan matures a n sl slightly ly higher premium will purchase In InsuranCe Insurance In- In s urance giving this option After Arter the c of ot the mortgage the life In Insurance Insurance In- In s urance policy ma may be continued by payment payment pay pay- m ment ent of ot premium quarterly semiannually o or r annually M MONTHLY INSTALMENTS PER 1000 Including payments on loan Interest and a nd insurance premium Mortgage canceled In ten years year or at p prior death Age Ag at at Monthly Age at Monthly D Date ate of ot Date of ot In tal- tal C Contract ment Contract ment 21 1277 38 1380 22 1281 39 1390 23 1285 40 1400 24 1289 41 U 1410 25 1294 S 42 1421 26 1299 43 1433 27 1304 44 1446 1446 28 28 1309 45 1460 29 1315 46 1474 30 1320 47 1489 31 1327 48 48 1506 32 1333 49 1523 33 S 1340 1340 BO 10 50 1541 34 1347 1347 51 1561 35 1355 52 62 1582 1581 36 1363 53 16 1604 04 37 1371 54 1628 1625 5 53 55 1654 C COSTS REASONABLE As AsIs is Customary all necessary costs in c connection with making the loan for tor appraisal ap ap- ap- ap p and photograph examination of ot t title itle survey If it required drawing and L r recording mortgage pap papers ra etc must beald be f 1 ald by the borrower Such costs vary i in n different localities but they are placed L o on n a as reasonable a basis as possible Costs of ot appraisal and photograph are arc p payable parable by applicant whether or not loan I is s favorably considered NO LOAN COMMISSIONS OR MORTGAGE RENEWAL CHARGES CHARGE Home Purchase A Avoids voids All Renewal Costs Costs Costs-As As a rule borrowers are charged a commission by real estate brokers and I o others for securing mortgage funds In Jr t the he course of ot ten years original costs and I c commissions are added to by renewal I c charges harges or if it the mortgage is transferred trans trans- f red ez-red by new costs cost and commissions s so o that the charges incidental to securIng b ing ig and renewing the mortgage over that p period are of ot substantial amount S No commissions are charged borrowers borrow borrow- ea e ers rs rg for home purchase loans and there a are re no renewal charges thus the total tota e expense Is reduced to a minimum The cash value of the policy at the en endot end I of ot ten years ears and the annual refunds durIng dur dur- ing tag that period further materially reduce S t the he cost of ot a home purchase contract REASONABLE PREPAYMENT PRIVILEGES S All An home purchase mortgages mortgages' am and I deeds of oC trust contain provision for tor prepayment pre pre- payment after the loan load has been in force torce for tor three years If Ie the borrower should however desire to pay payoff off the loan be be- be fore tore it has been In force torce for three years the Ashton Jenkins company will accept t payment provided the tho borrower will pa pay I In in addition to the amount then due the thi 0 premiums on the policy of ot life Insurance issued in connection with the loan re required required re- re to keep the policy in force fo for r three full years from its register date Advance payments of not less than thai on account of ot principal may b be a amade made at the option of ot the borrower with any Instalment after atter three years Su Such h hadvance advance payments will shorten the loan period but will not reduce the amount amoun t of the monthly instalment To prevent home purchase loans from ri being used for the purpose of ot speculation I and for or other reasons it has been found I necessary to require applicants to agrenot agree agre not to convey the mortgaged premises premise without the consent of the Jen Ashton kins company Inasmuch however a as S the loan can be paid oft off at any time o on a the terms stated above no borrower I Is 5 prevented from selling selling- his property Ire free e and clear paying oft off the mortgage a at I the time the sale is closed INVESTIGATE NOW Thousands of 0 the thrifty and foresighted foresighted foresighted fore fore- sighted citizens of ot the United States 1 m in mall I Ian all an walks of life lite have availed themselves of ot the benefits of 0 the mortgage payment t plan If It you Intend to purchase a home n I make or renew a a mortgage or if It yO you U have a a. mortgage not yet et payable wh why yOI I not call can upon the As Jenkins toll corn com company pany and discuss the mortgage payment mt com I t Dlan |