OTHER NEWS - June 4, 1996

Americans Willing to Make Sacrifices to Own Home: Delaying retirement and cutting back on vacation are some of the steps Americans are willing to take in order to become homeowners, the Federal National Mortgage Assn. said. Its nationwide poll of more than 1,857 people conducted April 8-16 found that raising money for a down payment and earning enough to meet monthly mortgage payments increasingly are obstacles Americans face in buying a home. The survey found 52% cited down payments and closing costs as a major barrier, compared with 51% a year ago. And 50% said having enough income to pay their mortgages is a major hurdle, up from 44% in 1995. Other roadblocks are job security concerns (48%) and finding the right neighborhood (43%).