Historical Newspapers of South Carolina

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The Newberry Sun, Newberry, S. C., Thursday, July 4, 1968 — PAGE 9 Vets are given advice on home buying With spring in the air, the Veterans Administration today offered advice to veterans who, like thousands of other Amer icans, are thinking about buy ing or selling a home. John I. Findley, Loan Guar anty Officer, VA Regional Of fice, Columbia, stated that while Korean War veterans and certain World War II vet erans are still eligible under the G. I. home loan program, the vast majority of veterans interested in securing a G. I. loan to buy a home are younger men. Of the 394,776 G. I. home loan applications received by the VA during the past two years, 302,311, or nearly 77 percent, were from men who' served after January 31, 1955, Findley said. Last month the figure climbed to about 85 percent with 16,270 of the 19,- 112 applications from veterans who served after the end of the Korean war. For the veteran who is thinking of selling his home by allowing the purchaser to carry his G. I. Loan, the VA reminds him that he should protect himself by getting a release of liability from VA. Releases are issued if the new buyer—veteran or non veteran— is a good credit risk and assumes all of the veterans loan obligations. The VA points out, however, that a release from liability does' not restore the veteran’s eligibility for another G. I. loan. Eligibility is restored on ly if VA is no longer liable to the lender on the guaranty and if the veteran disposes of the home for certain acceptable reasons, generally because he is forced to sell because of transfer or illness. Homes repossessed by the VA are sold to veterans and non-veterans alike without re gard to race, color or creed. Further information on VA homes and G. I. loans may be obtained from local VA offices. Your Social Security Over 25 million people are now receiving social security benefits. Many of these have the same name but none have the same social security num ber. It is very important for those applying for social secur ity or inquiring about their benefits to bring their social security number- Mr. Carlisle Bagwell of the Social Security Office stated today. You may think that your name is enough to locate your records but this is not true. Mr. Bagwell said that nearly 150 million social security num bers have been issued. Of these there are, for example, 1,679,- 000 people named Smith. 45,000 of these are named William Smith and 55,000 are named Mary Smith. Many of these have the same middle names, too. No matter how unusual your name, chances are some one else has the same name. Mr. Bagwell said that while there are practically always duplications in names, no two people have the same social security number. By using the number, each person’s correct record can be located. It is very important that each per son who files application for social security bring his ac count number card. It is equal ly important for beneficiaries to bring their numbers when inquiring about benefits. By doing this you will help the people at the social security office give speedier and better service. Beginning July 1st The Bank 01 Commerce WILL PAY % —ON— CERTIFICATES OF DEPOSIT On Amounts of $2500 and more! 6 MONTHS MATURITY NOW! YOU SAVE MORE —AT— The Bank Of Commerce Prosperity, S. C. Chapin, S. C.