Evening Star Newspaper, October 20, 1928, Page 21

A T o S REATL ESTATE. THE EVENING STAR. WASHINGTON. REAL ESTATE, WIVES URGED TO BE CAUTIOUS i WHEN SIGNING LEGAL PAPERS May Lose Dower Rights by Affixing Namc; to Mortgagc Should Husband Default. Realty Board Shows. Wives who like to sign legal docu- made subsequent to the first mortgage | ents had better consider well when | but filed for record prior to the filing t comes to signing the family mort- | of 1he mortgage made first. This means , for the signature of a wife on this | that ii the mortgage is not filed at the nstrument may deprive her of her|proper time,a mechanic's lien or a sec- wer rights should her husband de-| ond or third mortgage may be placed ault and the property come to fore-|on the property, and these, if properly losure, says the National Association'filed for record. would be satisfied in f Real Estate Boards in a bulletin re- | case of foreclosure before the first mort= eased today on “Some Suggestions for+ gag>, even if all the other factors about he Mortgage Borrower."” the mortgage were right. No one likes to think of foreclosure, | “Somctimes a real estate deed is Te- nd foreclosures are fewer than would | zarded as a mortgage, and it would be rdinarily be supposed. but women | well for the property owner to examine hould realize that their dower rights | his deed and see if this may be so. If an be very much involved in a de-| the deed provides for payments to be aulted mortgage, says the real estate|made on an amount owing on the ssoctation | property. it is then considered by the “If a property owner defaults on a| courts as a mortgage. and the seller of pmortgage, his wife may retain her dower | the property has all the privileges of a rights of one-third interest in tie | mortgagee. There are many people who property if she hat not signed the | think they hold title to their property ‘mortgage. When such a property is|if they possess a deed to it, but if this sold at foreclosure the wife can collect | deed is conditional upon certain pay- sher dower interest. before the mortgagee | ments it is really a mortgage, according can collect a penny of his loan, but if | to opinions rendered by the courts.” fthe wife signs the mortgage her signa- sl ottt oS thianisnt. fture acts as a waiver of her dower in- fterests, which gives the mortgagee un-| Nathan William MacChesney, general disputed rights in the property secur- | counsel for the National Association of | Real Estate Boards, says: fing his loan.” the association states. “Every deed conveying real estate .., Rule in Mortgage Paymenis. which appears to have been intended Tt i not usual for first mortgages only as a security in the nature of a #o be paid off in monthly installments. | mortgage. though it be an absolute con- he interest is paid annually or semi- | veyance in terms, is considered a mort- Ev:mlml‘v. and the entire amount of the | gage. A deed absolute in form will be | orteage falls due on the date of ma- | regarded merely as a mortgage if at its turity. If possible. it is better to pay | execution the parties enter into a sepa- ‘off a first mortgage in five vears than |rate written agreement for the convey~ 4n 10 or 15 years if good terms (inter- |ance of the property on the perform- #st at 6 per cent or less) can be secured. | ance of certain conditions or where it The reader can see that considerable s clear from the agreement that the #aving can be effected in interest pay- | deed was intended to operate as a mort- Tments if it is possible to take up the gage. Similarly, where the failure to Jmortgage in a five-year instead of a 15- | phrase the instrument as a mortgage ear period. results from accident, mistake or fraud, “On the other hand. however, it is|or where one who has bought property §,m" to have the mortgage made out | With money borrowed from another con- or 10 or 15 vears if it is not likely that | Veys it to such other by deed absolute Bt will be paid off in less time, and this | on the understanding that it is to be s a matter that the home owner or|held as security only, the deed can op- ‘orrower should consider with care. If €rate only as a mortgage.” the undertakes a five-year mortgage and —- ‘cannot pay it off at maturity, he will i dhave to pay refinancing costs in order Vote to Increase Capital. BALTIMORE, _October 1o have the mortgage continued, and | %these costs may be heavy. He will have | shareholders of the Loyola Perpetual %o pay for a re-examination of the title | Bujlding Associat: of t 0 see that there are no encumbrances | 5 snocia st LI jon the property, 50 he can secure funds | increase the authorized capital stock of drom a new source. He will have to pay | { i Keommisaion Tor e ow i have to Pay | the association from $5,000.000, as at Morney’s fees. All of these expenses can s A i voined ir ths torOee o eaugeif:ih",‘ct,?f‘n (lx.gest building associations is ability to pay and have the life of @ he mortgage so regulated. ST Another Essential Cited. ers have asked that the maximum sal- “There is another essential procedure |ary. now $1,800, be increased to $2.00f "n hm(xidlu;tg mortgages of special interest, | to and often overlooked by the lender. [~ ”» Standard Screens MADE IN WASHINGTON #So that a first mortgage may assume its rightful place in the order of liens which Ten Months to Pay To Home Owners Jnay exist against a piece of property, Jt is necessary for the mortgage to be | 927 15th St. NN\W. Frank. 1174 Tecorded immediately upon its execu- tion. Until it is officially filed for record “in the county recorder’s office, a mort- 'gage may become subordinate to liens. and even to other mortgages actuall; DETACHED BRICK MODEL HOME IN MARIETTA PARK ~n1 earaze to match the house - o 58 i e 604 Oglethorpe Street N.W Drive out Georgia Ave. 10 Longfellow St. and turn east on Long. fellow 1o 5th St. and then north on 5th St. 1o Oglethorps S1. Seven rooms. ultra modern bath, cedar lined close! attic over en- tire house, slate roof and electric refrigeration for $12,750 And Can Be Bought on Wonderfully Easy Terms Your Inspection Is Invited at Any Time Up to 10 P.M. CYRUS IMMON Main 1022 Investment Building A FINE HOME MICHIGAN PARK 1300 Michigan Ave. N.E. Corner of 13th & Michigan Ave. N.E. Middangh & Shannon, Inc., built tached brick modern residence with built-in garage and double enclosed and screened porches. Located in this popn lar and convenient section on a fine and beantifully planted and hedged corner lot, it must appeal to people who want the hest in a reasonably priced home. Priced at $1 . To reach--Drive out Michigan Ave. N.E. to 13th" St. or take Rrookland car to end of line and walk out Michigan Ave. 1o this home. Open for Inspection All Day Sunday this 4-bedroom de Exclusive Agents and Realtors 1435 K Street Main 2345 20. — The | special meeting this week voted to | present, to $20,000.000. This makes it | Windsor, Ontario, public school teach- | | APARTMENT SOLD FOR $500,000 Large apariment property at 1616 Sixteenth street, which has been pur- chased from Azreal Furr by Eugene A. Smith for a_consideration said to be ap- proximately $500,000. In connection with this deal, Mr. Furr purchased from Mr. Smith the Parkway Apartments, located at Connecticut avenue and Macomb street, which contains 80 apartment units. The transactions were handled through | the office of McKeever & Goss. West of Conn. Ave. Near Stores and Schools Open Saturday and Sunday Price, $11,500 This is a home located in the most beautiful subdivision of Chevy Chase, Maryland—designed for those who make of living a fine art. Evervthing that a family could demand i« in this home. It ha= 7 large roome and bath, hot-water heat and electricity. The lot is 50x150 with garage to match the house. Representative on Premises J. Dallas Grady, 904 14th St. N.W. Main 6181 I ‘r o e “! (T One of the Most Unique : Homes— We don't know of another like it—and it'll impress itself in your favor on close inspection. 3914 Military Road Chevy Chase, D. C. West of Connecticut Avenne and convenient to its utilities The rooms are of such splendid size, and arrangement—both downstairs and up. The decorations are in excellent taste—the fixtures of most attractive design. First Floor The living room is large, with big hrick fireplace, and immense sun parlor opening from it. Dining room across the spacious hall; Jarge kitchen, with built-in refrigera- tor; butler's pan- try and breakfast nook. Second Floor The master hed- room and private bath in size com- parable, to the liv- ing room. Three other large bed- rooms and com- plete bath. Out from the master bedroom you step onto an immense open porch. The lot is 70x185 feet—beautifully laid out like a private park, with luxurious planting, tall shading trees and a lily pond. The garage is built-in, but on such a plan that it does not intrude on space, or disfigure the lines of the home. Of course screens are provided for all open- ings. A circumstance places this home on the market at a bargain price —$25,000— and terms can he arranged Open Sunday from 2 P.M. to Dark. CKEEVER 4GOS REALTORS Deal with a Realtor 1415 K Street Maximu ervice Main 4752 | o i One Woman Injured and va»ral[ Persons trying to gain control of D. C. SATURDAY. OCTOBER 20. 1978 lplosinn wrecked the rear of the bu)ld-' EX-DRY AGENT’S HOTEL g ; | ing. injured one woman and threw sev- | IN CHICAGO IS BOMBED| ;:x of the hotel's 100 guests from their | the hotel were blamed by police for the | blast. Earl Leatherman, who, with his wife, owns the building, formerly was | a prohibition agent. 3 I;,‘]: c&scrsdued v the As e | theories, however, that the bomb was Brahs Ssodatel £ placed by persdns he arrested on liquor CHICAGO, October 20.—Bombers | charges. tossed a black powder missile onto a | Hundreds of persons wete leaving the | rear porch of the Crescent Arms Hotel | Sheridan Theater nearby When the ex- on Sheridan road last night. The ex- | plosion occurred. YA Y TaYh7aYi7a\! ( il Best Home Buy in N.E. Today Inspect at Once : 1500 to 1536 D St. N.E. Six and seven large rooms, tiled bath, built- in tubs, h.-w.h., electric lights, hardwood floors trim. One-piece sink, built-in ice box and other extras. Double rear porches, wide front porch. Built-in garage with house. Paved Guests Thrown Out of Beds by Explosion. and each street. “Ask the Man Who Owns One” Built, Owned and for Sale by Thomas A. Jameson Co. Owners and Builders 906 N. Y. Ave. N.W. Phone Main 5526 4 Sold Before Completion Attractive Seven and Eight Room Homes Facing Eastern High School Exhibit House 1700 B Street N.E. Open Daily Until 9 P.M. Juilt of the highest quality buff-coiored tapestry brick, of sound construction and artistic’ arrangement, containing heauti fully paneled living and dining rooms, an all-white kitchen, four large bedrooms, all with closets and a tiled bath with built-in tub and shower, and three roomy glassed-in and open porches Built-in garage. A sweep of lawn, and a view commanding the new Anaostia Parkway There Is Nothing in All Northeast Washington to Compare with It! 4 Streets and Alleys Entirely Paved Low Price—Small Cash Payment Balance Like Rent ROBERT E. KLINE, JR. Owner and Builder 718 Union Trust Building Main 6799 Go out East Capitol to 17th Street, then north tuwo blocks to B Street 5 ATTENTION! Fastest Selling Homes in the City Our Latest Offering of beautiful homes on Kansas Avenue Just north of Sherman Circle between Emerson and Farragut Streets Undoubtedly the finest and most complete homes ever offered for sale in Washington. Electric refrigerator, fireplace, two-colored bath and fixtures. parquet floors, and garage are just a few of the many ncw features that you must see to appreciate. An Example of Why-- Over 1000 Life-time homes have been built and sold. INSPECT THESE HOMES TODAY CAFRITZ Owners and Builders of Commumities 1016 14th St. FIRST SHOWING 4 10417 Oglethorpe ft.NW. SEMI-DETACHED BRICK HOMES that will have a special appeal to those who are really CRITICAL OF CONSTRUCTION. Spacious rooms — concrete front porch—open fireplace in living room—tiled bath with built-in tub and s h o w e r—immense screened porches—oak floors throughout— outside pantry—complete kitchen —built-in garage—paved street— near carline, school and stores. Sample house open Sunday for Inspection ™ g 1418 Eye St. N.W. Exclusive Agents Your Main 5904 “DOUGLASS SELECTED" CHEVY CHASE BUYS 3636 VAN NESS ST. N.W. This distinctive and unique design Cleveland Park Home of stone and tim- bered brick construction with graceful]y sloping roofs to large covered verandas. charmingly situated on large. well-land- scaped site. The interior is equal:i . pleasing and practically arranged wi open fireplace, period panels, two fully equippcd tile baths, etc. Drive east an Van Ness St. two blocks to home from Connecticut Ave. 3905 OLIVER STREET Situated near Chevy Chase Circle. one block west of Connecticut Ave. A Fine Colonial Brick with four large bedrooms. two tile baths and lav:tory. breakfast porch, large side porch, every modern facility. 3604 MORRISON STREET A beautiful detached home in this ex- clusive section East of Conn. Ave. Large cheerful bedrooms, living room with mas- sive open fireplace, sun parlor, on beau- tif.ul landscaped lot. Reduced to $11,950. INSPECT THESE SUNDAY 3. €. Douglass Co. Realtors—Builders 1621 K St. N.W. Frank. 5678 De’;g’ltftd Corner Residence Gathadiad Heights 2801 THIRTY-EIGHTH b STREET N.W. || Close to the Cathedral P4 TRULY remarkable corner brick residence, most conveniently located one short black west of Wisconsin Avenue—and on one of the high- est points in the city. It is of the center hall four- bedroom plan, and. of course, is modern in eveny respect, including an extra lavatory. | The fine corner lot on which it stands is nicely landscaped. There is a brick garage. This home will particularly appeal to the family which not only wants a complete and modern home but one that is located in aristocratic surroundings. Attractively priced, $16.950. OPEN SUNDAY FOR INSPECTION Realtors and Exclusive Agents 1438 K Street N.W. Main 2348