Evening star. [volume], May 23, 1936, Image 30

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
F. HI MEASURES
MORTGAGE IKS
Underwriters’ Manual of
Agency Hailed as Most
Accurate Yardstick.
Details of the Federal Housing Ad
ministration’s technique for measuring
the degree of risk In mortgages
eligible for Insurance under terms of
the national housing act, are In
corporated In the Federal Housing
IHmlnlitroH/in TTnriorurif ln<7 MSTUlfl!
the second printing of which has just
been completed.
The system has been widely accepted
eg a major contribution to mortgage
lending practice and has been hailed
by lending institutions and the real
estate men as one of the most ac
curate yardsticks yet developed. It
Is the joint work of Frederick M. Bab
cock. chief of the underwriting section,
and Miles L. Colean, technical direc
tor, Federal Housing Administration,
both recognized authorities and mem
bers of the underwriting stall.
The mortgage risk rating system,
with which the Underwriting Manual
deals in minute detail, is the process
of thoroughly analyzing the mortgage
factors of risk undertaken in the mak
ing of a mortgage loan and rating of
the mortgage in accordance with the
risk involved In the loan transaction
or in connection with the Insurance
of a mortgage.
The housing act prescribes certain
eligibility requirements, including:
A. me piuuipni vi ttiv uivi iguBV.
cannot exceed 80 per cent of the ap
praised value established by the Fed
eral’Housing Administration.
2. The mortgage must be completely
amortized by monthly payment* on
the principal.
3. The mortgage must not have a
maturity date in excess of 20 years.
4. The monthly payments may not
be in excess of the mortgagor’s rea
sonable ability to pay.
5. The projects with respect to
which the mortgage is executed must
be economically sound.
Determination of the last point calls
for careful use of the mortgage risk
rating system. It is true that if all
the applications received by the Fed
eral Housing Administration were for
the full 80 per cent of the appraised
value and for the full term of 20 years,
a large part of these would have to
be rejected, officials said, because
only mortgages which are found to
be economically sound are eligible.
In general, according to the manual,
new construction of good quality,
properly located, does qualify for the
iuu au per cent loan, in cases wnere
the property, the location and the
borrower of the mortgage money are
not in correct balance according to
the system of risk rating, the Fed
eral Housing Administration is not
in a position to insure a full 80 per
cent twenty-year mortgage, but may
still approve the application in part,
since the underwriting procedure by
which eligibility is determined, pro
vides a method of avoiding rejections
by insuring loans for lower percent
ages and shorter periods of time.
Copies of the Underwriting Manual
ere available to lending institutions
and individuals on application to
Washington headquarters of the Hous
ing Administration.
-•
Clean Brushes First.
Brushes that have been used In
metallic paints should be washed out
clean with turpentine immediately
after using.
GARDEN NOTES
'T'HE unusual heat has been hard or
the gardens as well as the gar
deners. Iris and other plants are
being foroed into bloom and, in man;
cases are nowhere as nearly attrac
tive as if they developed more slowly
It has been a particularly unfavorable
year Xor newly-planted shrubs an<
roses. Watering Is not enough In hoi
periods and newly set plants shoulc
be shaded temporarily with lath worli
or other protection.
This Is a year of- peculiar blooming
Plants that are often two to three
weeks apart have come Into bloom ai
the same time so that It is dlfflculi
to judge the normal behavior of th<
various species. The year seems des
tined to go on record as one of in
consistencies.
Pansies are cool weather plants anc
should be planted very early in the
Spring to be really worth while. Ir
our average Winter, the pansy live
through very nicely, especially if cov
ered with pine boughs or leaves. Thii
is the ideal culture, although somi
folks manage to grow nice pansle
throughout the Summer.
Insects of various kinds emerge ver
rapidly in periods of heat. The ten
caterpillar, for example, enlarges iti
webs on apples and wild cherries anc
must be destroyed by spraying witl
arsenate of lead if it is to be pre
vented from defoliating trees. Thi
17-year locust is certain to emergi
shortly from the soil and, for a time
worry gardeners with its noise anc
destruction of terminal branches.
One gardener in this vicinity has t
worth-while plan for obtaining new
varieties of iris. He buys expensive
kinds, grows them a few years anc
sells the increased stock at moderate
rates. Immediately the receipts an
reinvested in newer Introductions. Ir
this way, without any great outlay, he
Is enabled to test the new Irises and
improve his own garden as well as
that of his neighbors. Of course, no
one gardener can buy all the new
irises each year but, by selecting his
material, this home gardener has been
very successful. The iris is an excel
lent garden plant because its foliage is
beautiful after the blossoms are gone.
Now that the snowdrops, hyacinths
l and crocuses are ripening oil their
, foliage, it is ail right to mow over them.
The nutrients In the leaves have all
moved downward into the young bulbs.
Many of our worst weeds, such as
dandelions, chlckweed and purslane,
are natives of Europe or other parts
1 of the Old World. Their rapid de
velopment precludes the possibility of
ever eradicating them entirely but
they can be suppressed in the lawn
and garden by diligent effort.
The solanums are important in the
vegetable garden as the potato, tomato,
' pepper and eggplant, and in the flower
garden as petunia and flowering to
1 bacco. It is interesting to note that
the tomato was first grown solely as
i an ornamental.
■ Pinching back the main leader of
chrysanthemums, dahlias, zinnias and
other rapidly growing plants will
cause them to send out side branches
and develop the stocky form that Is so
desirable. Sometimes it takes courage
to snip out the leader of nicely grow
ing plants, but it is the only way to
suppress rampant growth. Staking will
not be as necessary In disbudded
plants.
The foliage of most roses is reddish
in color when the leaves first emerge,
but there is a variety with red foliage
throughout the season. One could
have an Interesting garden of red
ft ~ a
hued foliage If he Included the purple
leafed maple, beech, hasel, barberry,
plum and the rose.
Fragrant foliage appeals to many
gardeners and one finds occasionally
an old-fashioned sweet briar roes and
lemon-leafed verbenas and geraniums
grown chiefly for their sweet-scented
leaves. Many of the herbs grown In
the old-fashioned garden were also of
delightful fragrance.
strangely enough, one of our most
valuable garden Irises, Princess
Beatrice or Pallida Dalmatlca, was
grown before 1600 and Is still rated
as one of the best of the clear lavender
blue verities. At this early date, a
garden writer, Carolus Cluslus, de
scribed some 26 sorts and remarked
on the variability of seedlings. This
Information must not be miscon
strued as a plea for the old verities,
for, as a rule, they are vastly Inferior
to the present day varieties, such as
William Mohr, Los Angeles, Tropic
Seas and others.
Natural Beauty Sought
In choosing woodwork finishes,
natural beauty should be retained
whenever practicable. A wood which
is In Itself beautiful and well matched
for color and grain, may be given
a varnish finish If the room scheme
permits. Inexpensive woods, or any
woods that have been poorly selected,
are generally given a finish of paint,
enamel or lacquer. Any one of these
provides a smooth and attractive
opaque coating.
Ceiling Drying Back.
In the modern apartment and small
home every Inch of space In the
kitchen Is allotted Its special function,
so when the cook washes out the
dish towels or madam herself does a
little laundry work It Is difficult to find
a place to hang the articles to dry.
Consequently they are draped all over
the house. A convenient drying rack
can be fastened to hooks in the kitchen
celling and can be lowered and raised
at will. Wash your towels, stockings
and lingerie, hang them on the rack,
pull them up to the celling and there
you are.
An Outstanding Price for
; A REAL HOME
1818 Ontario
PI. N.W.
$7,450
Here * a two-itory house In an excep
tionally fine neighborhood 3 bed
rooms, 2 baths. 2-car brick garage,
front and rear porches. Occupied by
owner and open for Inspection every
day.
Bradley, Beall & Howard, Inc.
8outhern Bldg. NA. 02 U
Evenings. Phone GE. 7806
1 — ^ _ _ __ _ _ __— .
A Beautifully Furnished
NEW CAPE COD HOME
5534 30TH ST. >.» .
I IN CHEVY CHASE Just off McKinley St.
• Seven
Rooms i
• Two
Baths
• Sewing
Room
• Modern I
Kitchen |
% • Bir
Fire
place
V • Recrea
| t*»n
Room
&
•Built-in
j Garage
3 • Gaa
E Heat
Save $1,000
Buy From Owner
6229 Utah Avenue
Chevy Chase, D. C.
(32nd and Tennyson)
Better than new after one year con
stant improvement. Only sudden
change in owners' plans force sale.
This distinctive home, larger than
usual, has extra space each floor. Three
full and 1 child's bed room, besides fin
ished 4-window attic: 2 baths. 2
porches recreation room, etc. Open
8at. and Sun., or call Mr. HAMMOND.
Emerson 3966. for appointment.
208 KENNEDY DRIVE
This charming home, center-hall type, contains large living room, dining room, breakfast room,
kitchen and pantry on first floor and 4 large bedrooms and two baths on second floor. Complete
servant's room and bath and two-car garage in the basement. The lot Is 150x138. The price and
terms are attractive.
It is not necessary to have a large income or a great amount of capital to live in Kenwood.
If the above pictured home does not meet your requirements let us show you some of the beautiful
home sites now available in the “Community of Flowers.”
OPEN SATURDAY AND SUNDAY FOR INSPECTION .
Other Days by Appointment
I^nne - Chamberlin Development Ca
KENWOOD OFFICE: KENNEDY DRIVE AND CHAMBERLIN AVE.
Wisconsin 4425
To reach Kenwood, drive out Connecticut or Wisconsin Avenues to Bradley Lone, west on
Bradley Lane to Kenwood entrance, turn left on Kennedy Drive to house or drive out Wisconsin
[Avenue to Somerset, west on Dorset Avenue to Kennedy Drive and right 2 blocks to house.
Group of Six Dwellings Purchased
The group of six homes, located at 222 to 232 Jefferson street, have "been sold within the
last two weeks, N. C. Hines, sales director for Wm. H. Saunders Co., the builders, announced
today. The purchasers are: 222, Mr. and Mrs. Stanley J. Collinge; 224, Mr. and Mrs. Percy Hart;
226, Mrs. Jennie N. Neagle; 228, Mrs. Julia F. Aiken; 230, Miss Eva B. Bixler and Mrs. Eva B.
Campbell, and 232, Mr. and Mrs. Benjamin A. Leatherman. —Star Staff Photo.
4 NEW BRICK HOMES f
t* In University Park. Md. ?
On Washington Blvd.. one mile past ?
Hyattsvllle. 8 and 7 rooms, all 4
A modern conveniences. Slate roots. 4
A hot-water heat, with oil burner: 4
A brick garage: on* and two baths: a
Z large lots. Corner Cecil Ave. and Z
J Wells Rd. Electric kitchen. J
X 512 E. Madison St. X
. 4 Rlverdalg. Md. 7-room frame cot* 4
s 4 tage. with garage: good condition; 4
1 A Price, *5.-60.00. Easy terms. A
5 A LOG' CABIN 4
3 4 Fully furnished; Lake Jackson. 4
e A Price. SI.260.00. 4
' 4 NEW BRICK HOMES ♦
3 ♦ Now being built. Baltimore and ♦
1 A Chestnut Sts. Takoma Park. Md. ♦
. 4 Thoroughly modern: 8 and 7 rooms. 4
3 4 two baths; oil burner; garages. 4
i 1 The Powers Co. a
4 Contractor* and Builders. +
’ # Cecil Art. and Wells Rd.. ♦
e A University Park. Md. A
d 4 Greenweed 1378. Shepherd 3038. 4
000000000000000004000000
!
FOUR NEW HOMES FINISHED IN
BRADLEY HILLS
MODEL FURNISHED HOME
5551 BRADLEY BOULEVARD
Furnished by Wayside Antique Shop
—Consider First the Location
Overlooking Kenwood and Edgmoore
Note the Architectural Beauty of This Home
Just some of the very interesting features:
Flagstone foyer off entrance hall.
Very unusual floor plan.
6 spacious rooms.
Lavatory on first floor.
Studio den or bed room.
Two complete ba ths.
Maid's lavatory.
Model kitchen with G. E. disposal unit,
ventilating fan, monel metal sink.
Slate roof, furred walls, rockwool insula
tion, in fact every care has been taken to
make this a most outstandiila home.
F. H. A. Financing If Desired
Built by BOWLING fir GARDINER
PRESENTED BY
CYRUS KEISER, JR.
5211 Wh. Ay. CL 537)
Il_COLONIAL HEIGHTS. VA. II
v .I!m.■■ ■ v- ■ ” i■ am>■ wwmwat I
Brand-New Corner Detached Brick
20th and Ode Sts. North
Two Bedroom*—Recreation Room—Oil Burner— j
Electric Refrigeration—Brick Garage
An All-EIectrlc Home (electric rate l'ac kilowatt hour.) Situated on •
high elevation overlooking the river and Virginia hllla; beautifully land
scaped lot 60x140. It Is an Individually designed home completely
equipped: having Western Electric range and water heater. Westlnghouse
refrigerator, screens, weathers:ripe, oil burner. First floor has large
living room with open fireplace and built-in bookcases, dining room,
kitchen and dinette. Second floor has two attractive bedrooms, bath and
porch: has a lovely recreation room with open fireplace; also a detached
brick garage to match house.
Open All Day Sunday
\7 QCll Drive across Key Bridge thru Rosslvn. turn sharp right at
ap I )vvv Amoco gas station; on North Key Bled, follow direction
arrows to Ode St., North and turn right on Ode St. to 20th St. and house.
L. T. GRAVATTE
729 15th St. Realtor National 0753 j
Beautiful Forest Hills
2842 Chesterfield Place N.W.
This spacious Colonial home embodies all that is beautiful and livable, in a setting
second to none. It is impossible to adequately describe the rare charm in this newest
of new homes. First floor comprises living room, dining room, electric kitchen, break
fast room, library and powder room. Second floor: Four bedrooms and three baths.
Basement: Recreation room, maid's room and bath, laundry and furnace room, large
two-car garage. The best of construction and equipment. Moderately priced on
today's market. The setting for this lovely home is a large wooded lot attractively
landscaped by J. H. Small, Inc. Louis R. Moss, supervising architect. Drive out
Connecticut Avenue to Albemarle Street, east on Albemarle to Linnean Avenue, turn
left to Chesterfield Place and property.
Owner M. B. Swanson Builder I
Emerson 6843 Wisconsin 3271
WARDMAN OFFERS
MOTHER NEW GROUP OF
DETACHED HOUSES
^■StAv
r mooERn
\<,.SAS Aj
\g»A*<V
I 7 Rooms—2 Baths — Automatic Heat I
§1 2-Car Brick Garage and an unusually large lot, 165 feet deep—an
S entirely new kitchen, and spacious, too.
i $12,500 I
I 1333 Hamilton St. N.W. §
I Open Daily 10 to 9 I
I HARRY WARDMAN, INC. I
I 1512 K Dl. 3830 |
I "Life Worth Living in a Wardman Home" I