Loading...
The Lucknow Sentinel, 1988-09-14, Page 9Mortgages Buyers of new mobile homes have ac- cess to similar financing arrangements as purchasers of conventional housing as of September 1, 1988 Stewart McInnes, minister responsible for Canada Mortgage and Housing Corporation recently announced. That is the day CMHC's new Chattel Loan Insurance Program goes into opera- tion. McInnes made his announcement during a tour of the manufactured housing plant of Kent Homes Limited at Debert, N.S. A simultaneous announcement was made in Hensall, Ontario by Murray Car- diff, M.P., P.C. Huron -Bruce, at the open- ing of manufactured housing producer, General Hensall Homes. Both McInnes and Cardiff pointed out the new program will assist lower income households, many of whom live in rural or remote areas. No matter where they live, Canadians should have access to decent, affordable housing that is appropriate to their local and personal circumstances. They said this program satisfies buyers of new mobile homes who have the same needs as those who buy houses built on site. The Chattel Loans Insurance Program, developed in consultation with represen- Lucknow Sentinel, Wednesday, September 14, 1988—Page 9 available for mobile home owners tative of the manufactured housing in- dustry, means buyers will be able to obtain terms and interest rates on loans for new mobile homes as good as those that apply to mortgage loans on conventional hous- ing. The program will operate initially as a five-year experiment. The Canadian Manufactures Housing In- stitute welcomed the new federal program. "This not only marks the advent of long overdue proper financing, but perhaps more importantly it means the federal government has publicly declared manufactured housing to be a legitimate housing option of all Canadians," said H.G. Starno, general manager of the institute. With a CMHC-insured chattell loan, buyers can make downpayments as low as 10 per cent and borrow up to 90 of the value of the home from a lender. The length of time available to repay the loan will be up to 20 years. Until now most mobile home buyers took out personal loans to finance their pur- chases. Generally these types of loans have higher interest rates, shorter repay - Anent periods, and require more borrower equity than mortage loans. There's more than one way to skin a cat... And there's more than one way to save at LINKLATER'S FURNITURE & TV! We've Been Sold So Everything Must Be Gone. by SEPTEMBER 24! ALL ELECTRONICS, CARPET, LINOLEUM Deduced to. CLEAR-CUT PRICES. Incredibly Low Prices Not To Be Found Again! HUNDREDS OF MATTRESSES TO BE CLEARED! STARTING AT $49.95 *All Sales Final *Pay By Cash or Special Financing - No Downpayment. No Interest, No payment for 3 months. O.A.C. 396-2182 ,................"............—,\____T LITbIKLATER urx)iture xv. 762 Queen St. OPEN: Mon. -Fri. 9:30-6 Sat. 111 5:30 Kincardine Chattel loan insurance is available for all new mobile homes used as the bor- rower's principal residence. The home may be situated on land owned by the bor- rower or on a leased. site. To qualify for the program, homes must be constructed to Standards Z240 for mobile homes of the Canadian Standards Association. To apply for chattel loan insurance, bor- rowers pay a $235 application fee. Upon approval of the application they pay an in- surance premium which varies with the loan amount. Premiums range from 0.5 to 2.5 per cent of the loan amount. CMHC-insured chattel loans are made by lenders approved under the National Housing Act - chartered banks, trust com- panies, life insurance companies and Caisses Populaires. Because this is an ex- perimental program, some lenders may choose not to participate. Fall color reports Travellers who want to watch Ontario's trees change color can readily get infor- mation about scenic touring routes, On- tario Minister of Tourism and Recreation Hugh P. O'Neil said today. The weekly reports from the Ministry will contain information on the progres- sion of color changes in tree leaves as well as highlighting special viewing locations and' tour possibilities. "Fall is a wonderful time of year to travel throughout Ontario and enjoy the richness of the changing colors," O'Neil said. "My Ministry is pleased to provide information to help travellers take advan- tage of Ontario's many attractions and natural beauty." The reports will be available to the general public beginning September 8 by calling (416) 963-2992. More detailed travel information is accessible on a toll-free phone line, 1 -800 -ONTARIO. Information for French language travellers can be ob- tained by calling (416) 965-3448 and toll- free at 1-800-268-3736. Sale of Land By Public Auction Municipal Tax Sales Act, 1984 The Corporation of the County of Huron TAKE .NOTICE that the land(s) described below will be offered for sale by public auction at 10:00 o'clock in the forenoon on the 4th day of Oc- tober, 1988 at THE COUNCIL CHAMBERS, COURT HOUSE, GODERICH, ONTARIO. Description of Land(s) Minimum Bid $ PCL. No. 1 - TOWNSHIP OF ASHFIELD, COUNTY OF HURON - Cust. No. 1 - Roll No. 64 002 200 029 07 - Lot 21 East of Wellington Street, Plan 136. $597.61 PCL. No., 2 - TOWNSHIP OF ASHFIELD, 'COUNTY OF HURON - Cust. No. 2 - Roll No. 64 002 200 029 08 - Lot 20 East of Wellington Street, Plan 136. $475.18 PCL. No. 3 - TOWNSHIP OF ASHFIELD, COUNTY OF HURON - Cust. No. 3 - Roll No. 64 001 000 002 03 - Part of Lot 61, Plan 141. Commencing at the Northeast angle of said Lot 61 thence Westerly along the Northerly limit of said Lot 16.5 feet. Thence southerly parallel to the Easterly limit of said Lot 88 feet, thence Easterly parallel to the Northerly limit of said Lot 16.5 feet to a point in the Easterly limit of said Lot, thence Northerly along the Easterly limit of said Lot to the place of beginning. $580.38 PCL. No. 34 - TOWNSHIP OF GODERICH, COUNTY OF HURON - Cust. No. 321 - Roll No. 24 001 300 005 00 - Lot 33, Concession 13. $3,982.65 PCL. No. 43 - TOWNSHIP OF HOWICK, COUNTY OF HURON - Cust. No. 1261 - Roll No. 46 002 200 053 01 - Lot 6 in Arthur Mitchell's subdivision of the original Mill Reserve Plan 244, in the Village of Fordwich, save and except that portion of said Lot sold to the Corporation of the Township of Howick for road purposes, in Instru- ment No. 21578. $1,311.15 PCL.- No. 56 - TOWNSHIP OF STEPHEN, COUNTY OF HURON - Cust. No. 2787 - Roll No. 04 003 100 049 00 - South 66 feet of Mitchell's block in even width Plan 221. $3,685.45 All amounts payable by the successful purchaser shall be payable in full at the time of the sale by cash or money order or by a bank draft or cheque certified by a bank, trust company or Province of Ontario Savings Office. The municipality makes no representation regarding the title to or any other matters relating to the land to be sold. Responsibility for ascertaining these matters rest with the potential purchasers. This sale is governed by the Municipal Tax Sales Act, 1984, and the Municipal Tax Sales Rules. The successful purchaser will be re- quired to pay the amount bid plus accumulated taxes and relevant land transfer tax. For further information regarding this sale, contact: W.R. Alcock, Treasurer, Corporation of the County of Huron, Court House Square, Goderich, Ontario, N7A 1M2.