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PARADE OF HOMES Graduated Payment Mortgages increases in the cost home required under i standard mortijaue ownership in recent ye have priced year there if tor the in many Canadnns the hoiibinq cri by subject interest rate market This has fostered the introduction until when it levels of a number of mortgage financing oil Horn then on to in involving subsidy teres rate changes the nl will designed to enable more people to be main the same until the i is come homeowners fully repaid In U S mortgage lindtrb have been experiment nj with alternatives the traditional fixed payment mortgage One technique is the Graduated Payment Mortgage which permits the borrower to make lower th in normal monthly payments in the early increasing the payments so that the debt is ropa d over the agreed upon amortization The pi in entails negative e the out stand ng mortgage inu inert instead of decrqajes the years the monthly not ficicnt to cover interest crinyes The attraction from the borrower b sta is that lie is able to qualify lor the gage with a lower income than is trndi tionally required did not make the beadlmes in Canada until CMHC introduced its plan in May For over a year now In insured on an experimental basis loans mjde by the Savings Cred Union Vic C under a Graduated Payment Mortgage program developed by the C Central Credit Union Under this plan the borrowers initial monthly mortgage pay merit reduced to approximately of the payment amount which would be strongly believes it a borrower equity throughout the essential to the integrity of the transaction Unlike other plan therefore under GPM program the amount of the mortgage loan to the mortgagor less would be dv under a tMdition re The Company has adopted the principle that the balance of the mortgiq should exceed during the period the maximum loan that would hive been available with a standard repayment plan On a homo lor example the maximum lo in avail is 0O0 li of value in lieu of the normal ratio As borrower must met t inercising payments underwriting have been tightened in some respects Also the insurance premium has been by of for thobe loans where the ratio outstanding balance to original value will exceed 85 in at any time during the repayment period believes that new concepts in mortgage financing should be pursued provided the programs are carefully desgned and administered With this in mind hopes to make a GPM plan available to its lender clients in the near future selling otter CENTURY HOME dining room bookcase lined library with fireplace long llvnn room plus a bedrooms oaths Priced at sub Sec II met your own properly com f development HANDYMAN ESPECIAL WITH INCOME The rent I in this will cover inn Canada Trust 8779500 HOBBY FARM hills and orccn surround this beautiful lour bedroom level brick home entrance living room with tlreplrtce dining room Three bathrooms double car Swimming pool with many many irore HI TRY DOWN bedroom brick tel In living has plenty budget porljnlly To yo WATSON I MANAGER and decorate on a S GEORGETOWN ONT miss mis op ASK ABOUT Asking BRIDGE LOAN PLAN TORONTO LINE 4532900 HOMES TOWN HOUSES SEE THE PROFESSIONALS POLZLER REAL ESTATE LTD 4538454 EXCLUSIVE LOCATION SOMEONE TRADE YOUR PRESENT HOME FOR ONE OF THESE CALLING ALL GEORGETOWN GOLFERS brick and mom home backing onto alt course will delight you In every way not be first to see It Call Freddie Almost Acres SAVE SAVE SAVE is foreseen mortgage Increase percent what a saving Hurry call Rudy Petition campaign planned Glen Williams residents object to business TRUCK OVERTURNS ON HIGHWAY 25 A of Glen Williams res I dent formed committee to draw up a petition protesting a commerciil von lure on he village a main street Neighbours ore angry about Hie no si and problems created BUI Wheeler wood splitting operations on a vac ant lot which he at the corner of Main and Mountain Mr Wheeler said lit has Conservation Authority will nut urmil him to build on It He has also been stopped from using it us a parkins place for vehicles lie uses in his trucking business he said He has paid commercial tax in Ihe lol for to years he said are annoyed by the noise of large wood splitting machine which cuts eight foot logs into stove wood lengths then spills these into a which is to handle The operation began Saturday had been brought split firewood is to be piled on the lol and stored for custom to come and pick up Mr Wheeler slid However neigh hours Mr Wheeler recent ly ran an advertisement say ing that customers could come and their own firewood from longer lugs and to do this they would need to bring their own Building Doug gent says thai the lol is zoned residential but has something of a conforming status since it has been used as a commercial property for such a long lime Mr Wheeler has been advised that the use docs not conform with its stilus however and the build department is taking ap propriate action on the not he said ilallon Hills clerk Ken Richardson said that while gravel could be on the lot if that has been going on since long zoning regulations were enact but changing to storing wood and dropping the gravel use will be considered a new use and thus not permitted Regional councillor Miller said Me has advised the group to bring their concerns to council Nov and in the interim administration will in Mr Wheelers rights in 1J74 but holding to permit the continuance of existing operations was passed in 19G9 Mr Miller said and Mr Wheeler operation may have predated it In that case well have to fight him on the change in his operation Mr Miller said morning between and Lines owned the lot for long time and can do vry Utile with it i because it lies loo close to river and the Credit Villey lo in the week The Ontario Hydro approaches Mayor want an OMB hearing held soon Ontario dm has report approached Hill in an attempt to slop Hill on Kills from the Ontario Boards lOMBsl to hear details of the towns opposition lo the In Milton transmission corridor Mayor Hill informed low planning board thai Hydro contacted him after the Toronto Clone and Mail published in rial criticizing Hills for re laying the corridor lion To ipparent surprise of board chairman Mayor Hill repoi th wants he ir into the corridor dispute lo resume is scheduled Jin is concerned tint Hills intention ion the jurisdiction In rule a jlrcid will further its ion schedule mm is in welcome ion Hills efforts to in or deny in court nut the is in rule in the issms invoked If the is no sueh it his been noted is ilrcady to com mince construction by virtue llic design did the Hill mid llu llvdrn Tin w is in wend tin riinioiiiwspipcrMriiiii lis of Inlinsid wli inform it jurisdiclm Dill wis idi loo lo rescind 11 members id not seen id nil ind Hill put llrn ni from sum stun previous I The i put part of in fiirtheiimmR rii Hills iters thin ditiirnl i lint ihe id iipplKdli BUSINESS DIRECTORY ink llu Bruit corridor THE ICE BOX 158 Mill St Milton 8783454 OPEN Sat Fri SPECIALS 1 Schneiderss sliced Bacon Wb 12 fb carton Sirloin butt roast boneless well Bradleys All Beef Tasty Burgers lbs Jumbo Shrimp 3 lb bag 5 Schneiders all beef weiners lbs cabbage rolls in sauce T ORDER NOW FOR CHRISTMAS turkeys turkey roasts hams lobster shrimp Robert Cranfield DC CHIROPRACTOR I H ROY H EVANS D Chiropractor 120 St Phone Sir nil GWCorbettDC CHIROPRACTOR I 8772201 Dr RRHamilton OPTOMETRIST TELEPHONE til Dr WB Foley Suite lOMnunliTiviewHO RECIipsham Limited Survivors 1 i via Ho i I Si illiSuili MI1WI I Or if itJKl HOME OF THE WEEK a COUNTRYINSPIRED FOUR BEDROOM Heres a tour bedroom one and one half storey design which provides abundant space for the larger family and a wide range of convenience features guaranteed to satisfy the most demanding of tastes The ranch Inspired exterior established a mood of open spaciousness and rustic charm which Is fortified by the shuttered windows and deeply weather sheltered entrance This opens Into a compact reception foyer which leads naturally right into large L shape living dining room combination or left into the warm and convivial family room A large and well planned U shape kitchen breakfast nook combination separates via pocket doors from both the formal dlrilng room and the large family room providing excellent separation of casual family meals and formal dining The family room features a wide fireplace and sliding glass doors connecting to the rear patio A laundry utility complex and a two piece vanity bath connects to the double enclosed garage providing a mud room facility All four bedrooms are positioned upstairs around the central bath and linen storage area Each has generous storage space and excellent natural lighting The very large master bedroom has a spacious walk In and a three piece with shower A lull basement provides abundant space for the future development of ad bedrooms and recreation room wet bar for family and entertainment This open and spacious design Is ideally suited to the wide frontage building lot and would be a welcome addition to any urban or rural neighbourhood Plans for design No may be purchased either by the single set at a cost of for the first set and for each additional set or by the package A five set plan package Including the first set Is economically priced at SI and an eight set package also Including the first set Whichever method you please Included for postage and handling Send nor the current edition of Select Home Designs Magazine Series No 38 featuring imaginative decorating and home Improvement Ideas plus quality home plans of every type Available for plus handling To order any of these Items please send cheque or money order To the Home of the Week Address to NEW HOME OF THE WEEK THE HERALD MAIN ST SOUTHOEOROETOWN