Year it was founded or passed-
The home owner’s loan corporation was founded in 1933.
What it did-
The law authorized $200 million to set up the Home Owners' Loan Corporation (HOLC) with authority to issue $2 billion in tax-exempt bonds. The money raised would enable the HOLC to rescue imperiled mortgages by offering financing up to 80 percent of assessed value, to a maximum of $14,000. There followed a rush to file applications in 1934 by those holding 40 percent of all mortgaged properties, of which half with lowest risk were accepted. As intended, the main beneficiaries were homeowners at the lower end of the middle class with incomes in the $50 to $150 monthly range, persons who in the private market would have lost their homes
Was it successful-
It was successful and is still around till this day.
Fashion-
Women wore long halter topped dresses, lace frocks, negligees, and corsets. Men wore suits with a matching top hat and over coats.
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