by JACOB PAAPE

Home Owners Loan Corporation

3003111 — 2016-01-12 17:00:04 UTC

Founded By: Franklin D. Roosevelt in 1933

Goal:

3003111 — 2016-01-12 17:06:50 UTC

Its purpose was to refinance home mortgages currently in default to prevent foreclosure

Successful?

3003111 — 2016-01-13 16:32:43 UTC

The Home Owners Loan Corporation was not successful because even though it helped people for a little bit, in the long run people still lost their homes.

Was it Worth the Federal Funding?

3003111 — 2016-01-13 16:35:46 UTC

It was worth it because it saved people from foreclosure and gave them a better opportunity for the future.

3003111 — 2016-01-13 16:49:52 UTC

3003111 — 2016-01-13 16:52:34 UTC

Some people such as the rich would be critical of this because it is helping people who some people would say don't deserve it.

Building of HOLC

3003111 — 2016-01-13 16:55:21 UTC

3003111 — 2016-01-13 16:57:17 UTC

It was used to extend loans from shorter loans to fully amortized, longer terms (usually 20-25 years). Through its work it granted long term mortgages to over a million people facing the loss of their homes.