OCR Text |
Show r PAGE . j.w Home Financing a Bit Easier For Older Couples and Women home he wants to buy, the older borrower will be able to get a loan. Behind this change, Farry said, are a number of factors: The growth of pension plans. Coupled with Social Security, they have led to greater stability in the incomes of many retirees. The fast turnover in home ownership. With people moving more often, the average life of a loan is only seven years or so. f The development of retirement and the good lending villages, experiences at many of these. Condominiums and planned unit developments, which give older alterbuyers a maintenance-fre- e native to apartment living. The growing use of private mortgage insurance, which reduces the lenders risk. The entry into the secondary market for conventional loans by the By Dorothea M. Brooks Traditional NEW YORK (UPI) - barriers which made it difficult, if not impossible, for a woman alone or the over-4- 0 couple to obtain a home mortgage are giving way. John P. Farry, president of the United States Savings and Loan League, says: Financing for home-buyenearing or at retirement age has become commonplace. And, while it still is not as easy for a woman to get a mortgage as it is for a man, the pendulum is swinging in that direction. rs Savings associations are the nations biggest mortgage lenders and the U.S. League, with nearly member institutions, is the major trade association. It wasnt too long ago, Farry said, that the rule of 65 prevailed. If you were 40 or over, your age, plus the term of the mortgage you were seeking, could not exceed the total of 65, the age at which people were expected to retire. But today many institutions are giving long-termortgages to borrowers who already are 65 or older. At the same time, he said, the working woman with her own financial resources has a far better chance of getting a mortgage today than she had even two or three years ago. Changing economic factors, and changing attitudes are behind the liberalized lending trends. Farry, who also is president of tne First Federal Savings and Loan Association of Albert Lea, Minn., said that while there arc differences in lending patterns from area to another and even among different institutions within the same area, over-a- ll change is evident when it comes to the would-b- e borrower who falls outside the main category of under-4- 0 couples. The woman alone who would purchase a home, he said, has going for her today the changing altitude toward women In the work force. As more and more women work and move into positions of greater responsibility, its becoming obvious their sex is no barrier to handling the obligations of .a mortgage, Farry said. Contributing, too, are new birth control methods and changing attitudes toward family size, which mean unmarried young women are more likely to continue working if they marry later on. Womens liberation and consumer movements also are exerting influence on lenders. But probably the most important reason, is development of the condominium, and. along with it the planned unit development. This is the logical type of housing for a woman because it provides the benefits of home ownership without the hard work involved in maindwelling. taining a single-famil- y The question now, Farry said, no longer revolves around a womans ability to maintain a property. It becomes purely one of economics: Can she afford the home? Is her income sufficient and steady enough to make the payments? Older Buyer The same criterion governs lenders in the over-4- 0 category. More and more," Farry said, the lenders only concern is whether the older borrower has an adequate ratio of retirement income to the debt he wants to carry the same yardstick applied to borrowers in any other age bracket. The older buyer may be expected to put up more than the minimum down payment on a home, and he may not be able to get the maximum term but if he can afford the 5,000 Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. This gives associations a market in which (hey can sell their mortgages if they wish. Lenders also have found, Farry said, that even if the head of the household dies, the widow often has the resources to keep up the mortgage. And even if both parties die, often an heir picks up the equity in m 30-ye- ar Firms 2 Over Display - Actress (UPI) a cosmetics Lamarr is suing Hedy firm for $1 million for allegedly using her name and photograph without her consent. Miss Lamarr, 57, said in papers filed in Manhattan Supreme Court, April 12, that she was greatly NEW YORK distressed, humiliated V V- -- 4 -- x . embarrassed bv the display. and the property. It is seldom today, Farry said, the older borrowers are that required to have a cosinger, usually a son, as was the practice formerly. If a man makes 25 per cent down payment, has plenty of life im surance and maintains a substantial savings, account, the lender is unlikely to tell him his son must cosign the note. In most cases, the father is in a lot better financial shape than the son anyhow." ARCO Out Highway Billboards By Kenyon Roberts (ACCN) William. Shakespeare, whose YORK (ACCN) Atlantic Richfield Company will discontinue use of billboard advertising on highways and at service station sites throughout the nation in line with the aims of the national Highway Beautification Act, Thornton F. NEW Bradshaw, president, announced today. Bradshaw said the company would not renew contracts for some 1,000 of the ARCO signs known as outdoor panels to the trade-- in 36 states from coast to coast. Atlantic Richfield and predecessor firms had used this form of advertising, for nearly half a century. Other signs which specifically direct motorists to service stations and that are not in the billboard category would be continued without change or conflict with the beautification act, according to Bradshaw. News Vending Machine Fee - ROCHESTER, N. Y. (UPI) The city was expected to appeal a court ruling declared which un- constitutional an ordinance regulating newspaper vending machines on dty streets. The decision, April 11, by State Supreme Court Justice Richard M. Rosenbaum struck down a law approved by the City Council last The law was challenged by the Gannett Company, Inc., as a violation of freedom of the press and equal protection under the law. The city had defended the ordinance, which imposed a $10 per year fee on each of Gannetts 200 newspaper boxes and required proof of $100,000 financial responsibility, as a means of preventing obstacles on public streets. NEW YORK (UPI)-- For want of decision Rosenbaums radio communications, a prison fell law local the said ruled he against and 43 lives were lost trying to "to preserve an untrammeled recapture it, an Attica prison guard press. has suggested. Gannett said the machines were C. Jack English, the sergeant in placed on city streets as a public charge of internal communications service, and expenses and losses due at Attica last September 9, testified to vandalism and breakage exthat he had only one telephone line to ceeded revenues from the boxes. maintain contact with the vast December 18-pa- ge , Had there been radio com- munications in the metal shops, they might not have fallen, English said guard English, 42, a veteran, was one of several witnesses who testified, April 18, before 19-ye- ar inMcKay commission that the riot vestigating prison lasted four days and left 43 inmates the and prison employees dead. The present round of hearings will last about two weeks. They were proceeded by three days of hearings in Rochester. Another witness, inmate Chris Mayes, said the riot may have been sparked by the beating by guards of a young prisoner who had punched a guard earlier. Mayes, a Mack, testified that the unidentified prisoner, a personal friend of his, was beaten unconscious in his cell by eight guards the night before the uprising. The beaten inmate, Mayes said, was carried from his cell unconscious and we thought he was dead. Mayes said word of the beating spread rapidly among the inmates on the morning of the following day. He said there was talk of a possible work stoppage in prisoners retaliation. Mayes also said that at the time feelings were running high among Attica blacks about the recent death of George Jackson in Californias Soledad Prison. birthday the English-speakin- g world celebrates in late April (the exact date is in dispute, but he was baptised on April 26, 1564), took the entire range of human affairs as the subject matter , of his plays. It would be surprising, therefore, if no references to the law were found in them. There are quite a few. The shafts of his genius glinted over the law as they glanced across so many other aspects of life. Where they struck, some facet of the legal landscape shines clearly across the centuries still, or some telling portrait Of a character drawn from the legal profession of his time has been added to our literature. Thus we have the acid picture of Justice Shallow whose very name suggests what Shakespeare was trying to get across about him in Henry IV, and the noble portrait of Portia pleading the equity of mercy in the Merchant of Venice. There is Hamlet soliloquizing over what may be the skull of a lawyer, and there is the rebel, Jack Cade, in Henry VI, proclaiming to the London mob, The first thing we do, lets hang all the lawyers. And there are saves and scores of references to legal procedure and legal matters which fascinate the specialist. For all this brilliance, the real significance of Shakespeare for lawyers runs deeper than this. Shakespeare created almost nothing new in his writing but he nonetheless justly ranks as one of the giants of English literature, perhaps its LEAA Appoints Private Security Advisory Board WASHINGTON - (ACCN)-Administr- ator Jerris Leonard has announced today the appointment of a Private Security Advisory Council to advise the Law Enforcement Assistance Administration regarding policies and programs which have an impact on the private security industry. Mr. Leonard said the Chairman of the new Council is J. Kevin Murphy, President of American Courier Corporation of Lake Success, New York, an international courier and armored car service firm. LEAA recognizes the important role played by the private security sector in helping to control crime, Mr. Leonard said. We look to the Council for substantial assistance in developing effective programs and policies relating to private protection services and improving cooperation between public law enforcement agencies and private security services. Mr. Leonard said the members of the Council have demonstrated their expertise in the field and represent all phases of the private security alarm including industry, manufacturers and services, armored car operators and guard services J Administrator Clarence II. Cotter, who set up the advisory body, said the Cowell will have four committees representing LEAA Associate the alarm industry, the manufacturing industry, armored car, and guard and investigative services. The Council will meet several times a year, Mr. Coster said. greatest. He was the great redactor who look the lesser plays of other men and reworked them into lasting masterpieces by adding an dement of unique genius in treatment, insight or the development of a character. This explains how Shakespeare was able to cover so much ground, and why even the law is not neglected in his pages, but it also tells us something more.- - This essential core of his genius, the transmutation of the building bricks already at hand, in itself resembles closely the role of the jurist. Judges in their opinions almost never say anything really new. They elaborate the precedents of earlier judges. The new law they spin is a refinement and an addition to what has gone before. If a judge has depth of insight and good literary style, he will produce a significant opinion, advancing the reaches of the law. This is what Shakespeare did in literature, and what great judges' like Holmes and great commentators like Blackstone have done for the law in all ages. The Bard of Avon is closer to the essence of the legal process than many realize. Not the least of which the law owes to Shakespeare is good style. The great opinion writers of the 19th century, here and in England, grew up reading such classics as Shakespeare and the King James Bible. They imbibed a good sense of style by osmosis. Where the study of Shakespeare in school has been cut back today, we are all the poorer for it, lawyers and judges not least of all. 28. Intercom Lack May Have Aided Attica Takeover expanse of cellblocks, shops and corridors at the state prison. English said that, as he became aware of trouble the morning of the riot, he tried to dial the prison metal shop and warn officers there. The phone there was busy, he said. As it happened, 20 of the 30 hostages who were seized and hundreds of the inmates involved in the prison takeover came from the metal shops. 'NP Shakespeares Genius Shone Also on World of the Law Phasing Struck Down W 'Hj THURSDAY, APRIL 27, 197: THE DAILY RECORD EIGHT Sues ' This columa originally was carried by the ACCN News Service in April, 1N4, on the occasion of Shakespeares 499th (Editors Note: Pro Per Prison Inmate Loses birth year celebratioa, and Is reprinted now after several Duel With Judge PHILADELPHIA (UPI)-Rich- ard Mayberry, Pennsylvanias busiest jailhouse lawyer, has aided up on the losing side again in a verbal battle with a Common Pleas Court judge here. Mayberry was cited for contempt three thimes and was bound and gagged and escorted from the courtroom on the orders of Judge James McDermott after the prisoner shouted abuses at the judge. Mayberry was in court to stand trial on contempt charges stemming from an incident in 1966 when he called one judge a simple-minde- d jackass and threw a book at him. Mayberry's first act at the instant hearing, March 29, was to fire his attorney and tell the judge, I dont want to be in court. Im going to get the out of here. I wont stand for all that McDermott took a sip of water and recess. ordered a When the recess ended, the judge told Mayberry he would have to stay in court but could represent himself if he wished. Ill only stay here under force, Ill constantly Mayberry replied. the proceedings. interrupt Mayberry then shouted, I several times when the on-be- ct, assistant district attorney read the charges. After the eighth objection McDermott told him, If you object again, Ill be obliged to hold you in contempt. Mayberry objected to that. McDermott cited him for contempt. Mayberry also objected to that. McDermott cited him again. The judge warned him, If you object again, the court will be obliged to have you bound and gagged. Mayberry objected to that. He was handcuffed to his chair and gagged, but began to kick the chair and hum the Marseillaise. McDermott cited him for contempt again, but ordered the gag removed so Mayberry could begin his defense. Instead, Mayberry, began shouting obscenities at the judge. McDermott had him removed from the courtroom and returned to Holmesburg Prism. He took the 1966 case under advisement. requests.) Common Market Considers Joint Pollution Fight - The NEW YORK (ACCN) of Council Communities European Ministers is considering a new common policy for pollution control proposed by the EEC (Common Market) Commission, Common Ground, a publication of KLM Airlines, reports. Five focal points highlight the suggested policy, Common Ground cites the periodical, European Community, as noting: 1. Human health. Measures to reduce or eliminate pollution dangers to humans should include the organization of a Communitywide water and soil observation network with a common center for research and data processing. 2. Land and Natural Resources. This aspect of the program' would overlap with regional policy, dealing with broad areas of the community such as the sea coast or the Rhine River valley. 3. Enforcement. The member states would cooperate to assure observance of regulations and to punish infractions. 4. Financing. Regions or inanti-polluti- on dustries would provide special financing when needed. 5. Coordination. A European Institute for the Environment would be created. The Community would participate in work being done by other international organizations. It is also urged that priority be given at once to the following: reducing the concentration of some of the most dangerous air pollutants and water pollutants; reducing pollution caused by products used commercially and by industrial waste; determining safety levels through a coordinated program of research; make studies to improve understanding of environmental pollution; cleaning up the Rhine valley and the North Sea and protecting the Mediterranean. |