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eluding development of recreational facilities. The Senior Citizens Housing Act of 1962 established a Farmers Home Adminstration program ol loans to individuals, corpora tions and groups to build rental housing for the elderly in rural areas. Loans were also authorized to individuals over 62 to buy, build or renovate housing for themselves.
These new authorizations were in addition to a general modernization of Farmers Home Administration existing lending programs brought about by the Agriculture and Housing Apt of 1961. All Farmers Home Administration loans are accompanied by technical advice on farm and financial management. Loans are made only to applicants unable to obtain needed credit from conventional lenders.
90.9%