Show Housing Act To Aid Rural Home Homel Buyer The rs housing Act WAS c signed nl Into law V t 1 by Pre President I John Johnson said DOll Doug las T Simplon Utah State Dir edor ector for the Farmers Home Administration Arl The Houin housing 1 and Urban Dw Art Act will be adminis- adminis administered h 1 Fab OO county of of- flees of the Farmers Home Administration t and m through the rural sv system of Technical Action Panel Panels The pr program gram Is aimed at farmers and other people In the side countryside and In rural towns of up to pop ula Uon HOUSING PROVISIONS New hO housing services under tinder thE act will Include Housing loan interEst ment payments for families with incomEs incomE's too ton low to meet in full the amortized loan pay ments on individual rural hous inq ing loans Interest supplements on loans to develop nonprofit rental and cooperative housing for low lowin come people Financial support for self help housing projects for low income families Including grants rants to nonprofit organ for the development and supervision of self help housing projects and loans to profit non organizations to buy and develop land to be used as building sites Housing and training facil facil- sties for rural job trainees and their families Expanded housing credit for city people who work in rural areas Loans for the purchase of building sites for labor form housing The supplement interest pro pro- program program gram for individual borrow ers will be placed In effect im- im immediately immediately mediately Individual loans may be made for up to 33 years loans for rental and co- co cooperative cooperative operative housing may be made payable over periods up to 50 years The supplement interest pro pro- program program gram for rural nonprofit rental housing organizations and co cooperatives operatives of low income fam fam- families will take effect when ad- ad administrative administrative arrangements are completed The new provisions for trainee job and self help housing assistance will not take effect until funds are ap- ap appropriated I apI propria ted Mr lr Simpson said |