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Show S. L. REALTORS ARE TOLD OF HOLYOKE PLAN Eastern Move to Combat j Housing Shortage Discussed Dis-cussed at Meeting An Interesting plsu for financing extensive ex-tensive hoii'tnit operation was read at the meeting of the Halt Lake Real Estate Es-tate hoard Friday, The pian a known at, the Holyoke n.itunal pUn, named for thai liolyoke National lianLw.f WnKnk Miian I and haa been -opid nil over the country coun-try with marked micreaa. .The nummary of the .;n (oilows; "The b4 nk 11; innfc. a ronxt ruction loan to any i'pprcid builder, fur any family in ItolyuR-south Hadtey- Falls. "hlrope, . hkoiK-e I'alU of Wllliamsett. who hhve $J00 en i:(.!.o in Its aavingf de(artment fr the "'Jt months preceding preced-ing ili. declaim! to tu!!d. "The l(rt inujit le not tea In than :xuu r-i-t or 'KHJn feet. This will give plenty nf loom tor garden. The hou unl hir.a niut com not leas ttian f:.iiK with ri: tit v-fHsury modern improve merits. 'If a two family house I d aired a d-posit of f Jnt. or tloreahfUita, tmifit have been on depoxit for the name period, ami tti housv mihI lund to t utl not Lh an 1 aOod. , , MONEY BUYS LOT. "The money on ilept.Mt If to le uaefl to pure hat e t he lot, m aft the houae, or t.oth. The locution numt he aubject to tha liank'n Hppnval uitd alt hout connected : to Sewei m. j "All nppllcanta must be American cH-faeriM, cH-faeriM, or at leajtt have their first paper pa-per to become such. "For budding purponea, the Hnlyoke j National tank will um one-half million dnltara. After the houae la completed and approve. 1, the hank will make an effort ef-fort to Kft th.- owner a pavlnga bank loan for 50 ir cent of the actual cot of the houxe and lot. rh difference between the nuvtnita hank loan and the coat of j the properly, le the amount f the own- er rno-iey Uped. the Holyoke Nwttonal. bank will carry for 6 per cent Interest,) pMyment to be' nuifle weekly or monthly, 1 ah initj ti- urtitnifed. j PLAN tN DETAIL. ' !! the hntihi of a lnle hoitc at' l.'.fMlO, the procen will b ful!ow. The boine owner will hnve $t0oo of hi?" o n nutney trat he will pay to the builder to nfjtrt the liou."'. This insurej hm (rood Interitions to mo through with the d-al ! The bunk will advance the remaining 1 4 000 to th builder aa a construction loan to complete the h"Ue. When the houae ia flnmhed a savinKa bank loan of ICr.OO will he negotiated ln addition there Will Be the OritfihiiT invesThient of tinorr t.y the owner, ni.lhi"' a 1 ' 1 " !'r'"" hen Tfut 1 Iol oke N t tonal bn n k will have an inter em, alwaya through the builder, of $i:.oo In the property to h paid off in weekly or monthly payments. "The bank official expect a total in- vestment of $i,2.Ht,flno jn home building , operations if deMitora take full advantage advan-tage of their offer. This la divided In three ways. Flrnt will be the 250,0OO of the home owners, of which llOftti will be required fr a one-family dwelling, and t200 for a two-family houne. Then will come SOQ.onq cf Holyoke National bank money, finally tr.oO.000 of savings bank money as represented by first mort- |