Democratic National Campaign Committee Saved more than a million homes

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Saved
MORE THAN A MILLION HOMES

"Take away the spectre of too high interest rates - save homes ; save homes for thousands of self-respecting families and drive out the spectre of insecurity in our midst."
FRANKLIN D. ROOSEVELT, Acceptance Speech, 1932

"Be it ever so humble there's no place like home."

Remember Republican Days
When frantic homeowners could not pay their mortgage interest-sometimes 6, 8 or even 12 per cent. When banks, loaded with unsaleable real estate but without ready cash, failed at the rate of 100 a month. When business, unable to get bank credit, piled up over 25,000 bankruptcies in 1932.

Democrats to the Rescue
One of President Roosevelt's first acts was to fulfill his campaign pledge. The Home Owners Loan Corporation (H.O.L.C.) created in June, 1933 gave distressed homeowners a chance to keep their homes by refinancing their loans for 15 years at 5 per cent interest, with principal repaid by small monthly installment. It gave distressed banks and mortgage companies a chance to exchange their defaulted mortgages for it government-guaranteed bonds. In the country, similar emergency help was offered through the Federal Land Banks by the Farm Credit Administration (F.C.A.).

Results:

H.O.L.C. restored 1,000749 homes to their owners, F.C.A. saved a half million more.
In June, 1933, mortgages were foreclosed at the rate of 1,000 a day, in March, 1936, foreclosures were lowest in 5 years.
By paying $225,000,000 in back taxes, H.O.L.C. enabled towns and counties to continue schools and other public services.
H.O.L.C. advances of $75,000,000 for home repair benefited workmen, contractors, and dealers.
Farmers have saved over 20 million in annual interest charges on loans refinanced by F.C.A.
The exchange of liquid government-guaranteed bonds for frozen mortgages has protected the savings of 50,000,000 people invested in real estate by banks, insurance and loan companies.

Other Federal Helps to Housing
The government has not only saved homes. It has encouraged buying new ones and renovating old ones. It has aided slum dwellers, in city and country, to get decent housing.
PRIVATE HOME FINANCING: Thanks to the Federal Housing Administration (F.H.A.) you can borrow money from your bank or loan company to build or modernize your home on the easiest of terms because F.H.A. insures the lending agency against losses from such loans. Other methods by which the Government has liberalized funds for home financing are the encouragement of new Federal Savings and Loan Associations in counties without adequate loaning service, and by opening a more ample flow of credit from the 12 regional Federal Home Loan Banks into member institutions.
COMMUNITY HOUSING: The Government is stimulating low cost housing construction in various ways. Inside of cities, Public Works Administration (P.W.A.) is building 50 projects and loaning funds for 7 others ; outside of cities, the Resettlement Administration is erecting small homes in 93 rural community projects and about 4,000 houses in model suburban settlements. F.H.A. has insured loans for 12 enterprises and has a mortgage insurance plan for the private construction of low-priced" garden homes

Results: Home building for the first quarter of 1936 rose 372 per cent over 1934. Over a billion has been spent for home repair under F.H.A. leadership. Private mortgage loans for new construction are more than double any year since 1931.

KEEP YOUR HOME SECURE . . . KEEP YOUR COUNTRY SAFE
Reelect President Roosevelt