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Home Owners Loan Corporation
Transcript of Home Owners Loan Corporation
the HOLC? The long-term effects of the Home Owners' Loan Corporation were that they essentially saved the housing market. Did the HOLC cause relief, recovery,
or reform? The Home Owners' Loan Corporation caused relief, because less people had to worry about losing their homes. Why was the Home Owners' Loan Corporation Created? The Home Owners' Loan Corporation, also known as the HOLC was created to help families avert foreclosures by replacing mortgages that were in or near default with new ones that homeowners could afford. It did so by buying old mortgages from banks — most of which were delighted to trade them in for safe government bonds — and then issuing new loans to homeowners. The HOLC financed itself by borrowing from capital markets and the Treasury. What was the purpose of the
HOLC? The purpose of the Home Owners' Loan Corporation was to reduce the burden on borrowers while increasing the liquidity of mortgages. Was the HOLC successful? The Home Owners' Loan Corporation was successful at first but, soon people were unable to pay their mortgages and defaulted. Works Cited
"Blinder, Alan. "From the New Deal, a Way Out of a Mess - New York Times." The New York Times - Breaking News, World News & Multimedia. N.p., 24 Feb. 2008. Web. 18 Mar. 2013. <http://www.nytimes.com/2008/02/24/business/24view.html?_r=1&>. "
"Pollock, Alex. "Crisis Intervention in Housing Finance - Economics - AEI." AEI - American Enterprise Institute For Public Policy Research. N.p., 31 Dec. 2007. Web. 18 Mar. 2013. <http://www.aei.org/article/economics/financial-services/crisis-intervention-in-housing-finance-outlook/>."