Homeowners Loan Corporation
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The Homeowners Loan Corporation (HOLC) provided government loans to homeowners who faced foreclosure because they could not meet their loan payments.
The Homeowners Loan Corporation started in June of 1933 and ended on June 4th, 1951.
The Homeowners Loan Corporation ended on June 4th, 1951. The Corporation ended because they did not make a loan in 15 years after 1948. The HOLC hasn’t officially ended until 1951. They spent 15 years tending their mortgages and keeping track of their money. When it finally closed they gave money to the U.S. Treasury.
The Homeowners Loan Corporation was created in June of 1933 to be a form of recovery during The Great Depression. The HOLC is a program that helps out people when they cannot keep up with their loan payments. The program is made to help people recover from foreclosure by offering government loans. President Franklin D. Roosevelt was the president that this part of the new deal formed under. The corporation managed to save 80% of the houses to the original homeowners.