Home Owner's Loan Corporation (HOLC) by KASSANDRA YOUSIF

Goal of the HOLC

299455 — 2016-01-13 21:21:43 UTC

The goal of the Home Owner's Loan Corporation was to refinance homes during the Great Depression. The purpose of this New Deal agency refinancing homes was to not have any worry about foreclosure or losing your house.

History of the HOLC

299455 — 2016-01-13 21:24:11 UTC

The Home Owner's Loan Corporation was established by the Home Owners' Loan Corporation Act. It was created under the New Deal by Franklin D. Roosevelt.

Success of the program

299455 — 2016-01-13 21:29:43 UTC

The HOLC was proven to be unsuccessful at the end of the 1920's. With the economic downpour, its mortgages dropped by the thousands.

Kassandra Yousif

299455 — 2016-01-13 21:32:00 UTC

P. 6

Federal Funding

299455 — 2016-01-13 21:32:28 UTC

The Federal Home Loan Bank provided federal funding for private homeowners. I believe this was an irresponsible way of federal spending because it was just on mortgages. Also, considering the fact that it was on private homeowners, considering there were more useful things to spend it on during this harsh time period of the economy. Also, on the contrary, it rescued collapsed and imperiled mortgages.

The Public's Criticism

299455 — 2016-01-13 21:42:55 UTC

The public for the most part viewed the HOLC as a beneficial part of the New Deal. For example, it was quoted as a "revolutionized the way Americans lived".

299455 — 2016-01-13 21:50:25 UTC

299455 — 2016-01-13 21:54:58 UTC