Money Made Available for Housing: The government...
From Times Staff and Wire Reports
Money Made Available for Housing: The government is making $78.7 million available for a new housing program. Under the program, the money will be used to buy down the interest rates on certain housing loans, making the financing affordable to those whose incomes otherwise would be insufficient to make monthly payments. HUD Secretary Jack Kemp said the loans add 20,000 units to the nation’s stock of low- and moderate-income housing.
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