Loans For Farm Repairs 



Insured By the F.H.A. 



'v^^^^^N. rSTORATlON ot" the Prop- 



jU (-ity lniprovi.in(.nt Credit Plan 

 ^. y ami otiicr tlian^'cs in tlit re- 

 cently amended National Housing Act 

 should prove particularly interestint; 

 and helpful to larmers dcsirini; to 

 finance tlitr cost of repainnt;. rebuilding' 

 or modcrnizinc their homes, harns and 

 other service buildini;s says the 1-ederal 

 Housing Administration. 



New dwellings, garages, barns, silos. 

 hog. poultry and milk houses and other 

 such structures may also be built v.itli 

 loans insured by the Federal Housing 

 Administration, this feature of the Na- 

 tional Housing Act being a special op- 

 portunity for tarmers desiring to im- 

 prove their living conditions or in 

 crease the efficiency of their farm busi- 

 ness. 



How to Modernize Your Tarm 

 Home." a booklet describing the Na- 

 tional Housing Act. as it applies to 

 farmers, is now available and free 

 copies may be had by writing the Feel- 

 era! Housing Administration. Washing- 

 ton, D. C. 



Under the Property Improvement 

 Cretlit Plan, owners of farms or tenants 

 having leases which will expire not less 

 than six months afer the maturity date 

 of the loan, may borrow up to Si 0.000 

 to be used exclusively for property im- 

 provements of a permanent character. 

 Installation and purchase of eciuipmcnt 

 and machinerv. such as cream separa- 

 tors, churns, and poultry batteries, are 

 no longer eligible for insurance imder 

 Title I, but such permanent improve- 

 ments as barn pens, feed bins, stalls, 

 troughs, ventilating systems, water sys- 

 tems, electric wiring and silos, for ex- 

 ample, are eligible. 



Property improvement credit loans 

 to farmers are repayable in monthly or 

 seasonal payments from the sale of 

 crops or livestock: but there must be at 

 least one payment a year. Interest and 

 other charges depend upon what ar- 

 rangement can be made with the bank 

 or other private lending agency grant- 

 ing the loan which is repaid in equal 

 monthly installments. 



For the first time under the Property 

 Improvement Credit Plan new construc- 

 tion loans of two types may be in- 

 sured up to S2500, 'These are called 

 Class 2 loans, and apply to the build- 

 ing of new structures such as barns, 

 garages, service buildings of various 

 kinds — poultry, hog and milk houses 

 — roadside markets, tourists' cabins, 

 gasoline stations and various other in- 



dustrial and commercial buildings. 

 These lo.ms mav run tor *) ye.irs .md 

 are payable in equal monthly install- 

 ments. 



Class .S loans, under Title I. apply 

 to such nev,- construction used wholly 

 or in part for residential purposes. 

 Certain property construction require- 



ments as established by the Federal 

 Housing Administration, must be com- 

 plied with. These loans are also limited 

 to $2^00 in amount, but may run for 

 a period of 10 years and are payable 

 m equal monthly installments. 



Whether or not .security will be rc- 

 ijinred for loans up to S^'xJO is a mat- 

 ter to be decided by the lending in- 

 stitution. >X'hcre -loans exceed $2'S00 

 the taking of security is strongly urged 

 b\' the Administration. Anil I'n the 

 use of loans for the erection of C lass 

 3 structures, collateral mortgage secur- 

 ity must be furnished. 



COTTON AND TOBACCO FARMERS WIN MARKETING QUOTAS 

 E. M. Upshaw, Fulton county, Ga., voted with nearly 2.000.000 southern fanners 

 in 20 states in the first AAA referendum on marketing quotas. March 12. Percentages 

 in favor of quotas: for cotton, 92.4; for dark tobacco, 81; for flue-cured tobacco. 86. 

 Illinois cotton growers voted 238 to 20 for the quota. Of the 2.300.000 cotton growers 

 eligible, about 1.500.000 voted. More than 300.000 tobacco growers of the 375.000 

 eligible, voted. 



APRIL. 1938 



33 



