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Show State Pre-ss Homeowners hear 'ray of hope8 it could be as high as $50-$60,000. "But we operate on a 33-year loan basis and that can run into a repayment problem for some," Page said. "There is no real limit except the homeowners ability to pay." Some disappointed Several homeowners present at the hour-long briefing expressed disappointment at the FmHA programs. "They can't help anyone," one homeowner said. "I think we have barked up the wrong tree. If the city stops here and thinks this is the answer, an-swer, it will be a mistake." (continued on page 3) By Jay Wamsley Promoted as the first ray of hope in dealing with the subsidence question, Wednesday's meeting with officials of the Farmers Home Administration did provide some help for a limited number of homeowners. Others, "who did not qualify under the program," in the words of State Director Reed Page, did not feel the same excitement and expressed desires to have the city continue to search for aid. "We are not the Santa Claus that will solve everyone's problem," Page said. "We operate a loan program to help low and moderate income families. Everything, however, will have to be on a case by case basis with no blanket statements." Visited area Page and associate Kim Harwood outlined the programs available to homeowners in the stricken area after touring the Highland Park Subdivision. Any family with an adjusted family income of $15,600 annually, or less, may qualify for FmHA loans, Harwood Har-wood said. The availability of other credit besides FmHA loans is also a determining factor, Harwood said, emphasizing such information would have to be acquired on a case by case basis. "We also have a rural housing disaster loan that does not require a formal disaster designation. This may be used in some cases," Harwood Har-wood said. "The disaster loan reduces the interest involved to five percent, rather than the present FmHA interest in-terest of eight and one-half percent." The disaster loan, as do all the programs discussed by Harwood has the same wage ceiling of $15,600. There are no grants available, only loans, he said. Added burden Loans might also be given homeowners who have already moved and the cost incurred in moving, combined with the mortgaged), mor-tgaged), have caused a burden to the point they may lose the home. Again, he said, this would have to be determined on a case by case basis and the homeowners would have to actually be on the verge of losing the home. The FmHA also provide a site development loan in areas where lots are not available or available only at exorbitant prices. Under questioning from the officials, however, homeowners verified that lots were not difficult to obtain in Cedar City. Harwood said the agency can lend based on the market value of an improved site and the customer's ability to pay, for those moving their homes. There is no real ceiling on the amount that could be loaned he said, FmHA (continued from page 1) City Manager Mike Embley assured the member of the Redhills Homeowners Association the city was not through searching for means to a financial happy ending and that the city officials realized the FmHA would not be the answer for everyone. "This is the first time any officials have offered any help at all," Embley said. "We are still looking-this is not the only thing we are working on. But this is going to help someone and we are thankful for that." Visit Office Persons interested in investigating the options available through Farmers Far-mers Home Administration were urged to visit the local county supervisor, Elmer Cox, in the Federal Building, First East, Cedar City. Those affected by subsidence who are presently under a FmHA loan are told to visit as soon as possible. Those with incomes of $15,600 or less should also see Cox for details of loans available. But those above the "moderate income" level will have to wait |