13 June

Home

Select Date

Day

Month

Year

1 Historical Event found for 13 June

On This Date

13 June 1933

1933: Creation of the Home Owners Loan Corporation (HOLC) in USA

The Home Owners' Loan Corporation (HOLC) was established by law to provide lower interest (5 percent) loans to prevent foreclosures, and the first to be made at a fixed rate.

At the time of its creation, 41 percent of home mortgages in the United States had been in default. The HOLC accepted applications until 1936, and effectively refinanced 992,531 homes.

After the last of the 15-year loans was collected back, the HOLC ceased operations in 1951.

Read this article in Urdu

(اردو قارئین کے لیے مکمل ترجمہ دستیاب ہے)

Views

More news from "On This Date"

The United States Created a System That Recognised Valuable Land Not Only for Development, but Also as a National Asset Worth Preserving

On August 25, 1916, US President Woodrow Wilson signed legislation creating the National Park Service, establishing a unified federal system for managing some o...

Pakistan Announces First Formal Housing Policy for Low-Income Families

On October 30, 1980, Pakistan unveiled its groundbreaking first comprehensive national housing policy specifically designed to address the shelter needs of low-...

Foundation Stone of Pakistan Steel Mills

On 30 December 1973, a day of exceptional significance in the industrial and urban history of Pakistan, former Prime Minister Zulfikar Ali Bhutto laid the found...

The Establishment of the National Geographic Society for the Study of Earth, Humanity, and Wildlife

On 27 January 1888, the National Geographic Society was established in Washington DC. The purpose of this institution was to advance understanding of the world...

Peterborough Was Designated as a New Town in Britain

Peterborough in England was officially designated as a New Town. The decision formed part of the third major wave of Britain’s New Towns programme, which aimed ...

Model Town Lahore A Modern Society Established within the Ancient Forest of Lahore (Episode 7)

The acquisition of land for the Model Town Society was one of the most remarkable and spirited chapters in its early history. Dewan Khem Chand and his...

Where Did the 500 Acres of Model Town Land Go (Episode 5)

Between 1921 and 1924, the land for Model Town Lahore was acquired in successive phases. The process began in 1921, shortly after the establishment of...