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Home Owner's Loan Corporation & Federal Housing Administration

Home Owner's Loan Corporation & Federal Housing Administration. By Shelby Powers. Top 5 New Deal Programs. Civilian Conservation Corps Civil Works Administration Federal Housing Administration Federal Security Agency Home Owner's Loan Corporation. Vocabulary.

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Home Owner's Loan Corporation & Federal Housing Administration

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  1. Home Owner's Loan Corporation &Federal Housing Administration By Shelby Powers

  2. Top 5 New Deal Programs • Civilian Conservation Corps • Civil Works Administration • Federal Housing Administration • Federal Security Agency • Home Owner's Loan Corporation

  3. Vocabulary • Mortgage - a loan to finance the purchase of a home • Redlining - Refuse a loan or insurance to someone because they live in an area that is looked to be a poor financial risk

  4. What does HOLC standfor?

  5. Home Owner’s Loan Corporation • HOLC • Passed in 1933 and stopped giving loans in 1935 • President Roosevelt asked congress to help protect home owners from foreclosure. • The HOLC lent money to non-farm homes worth less then 20,000 dollars. • It was created by lawmakers

  6. HOLC con’t • Extended loans from 5-7 to 15-30 years • Minorities didn’t really get loans

  7. HOLC Peak • The peak was in the spring of 1934 • There were 35,000 applications processed/week • Employed approx. 21,000 people • The HOLC ended completely in 1951

  8. What does FHA stand for?

  9. Federal Housing Administration • FHA • Lowered down payments • Stretched out years to pay back loan • It’s part of the National Housing Act of 1934 • It has been around since June of 1934 • Successfully increased the housing market

  10. FHA Con’t • Gave the low-income and minority families a chance to own a home • Redlining became illegal • It is the largest insurer of mortgages in the world today

  11. REVIEW • How many years was the HOLC around? • Who did the FHA lend to that the HOLC did not? • In what year was the HOLC at its peak? • Which one is still around today-HOLC or FHA? • The HOLC extended loans from 5-7 years to _-_ years. • How many people did the HOLC employ?

  12. Sources • http://americanhistory.about.com/od/greatdepression/tp/new_deal_programs.htm • http://www.novelguide.com/a/discover/egd_01/egd_01_00264.html • http://syracusethenandnow.org/Redlining/HOLC_Maps.htm • http://en.wikipedia.org/wiki/Federal_Housing_Administration • http://en.wikipedia.org/wiki/Home_Owners'_Loan_Corporation The End

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