THE UKRAINIAN NATIONAL ASSOCIATION FORUM (09/29/96)

THE UKRAINIAN NATIONAL ASSOCIATION FORUM

The UNA and you
Home sales surge as stocks fall

by Stephan Welhasch

This is a great time for many home buyers to be shopping for a mortgage. Home sales in many parts of the country have jumped by more than 10 percent this summer, as housing sales reached their highest level since the boom years of the mid-1980s, reported the National Association of Realtors.

Surprisingly strong economic readings have upset Wall Street's newfound optimism on inflation, sending stocks plummeting - leaving many investors quite nervous this Labor Day weekend. What does this mean for the new home buyer looking for a mortgage or home owner who is thinking about refinancing? Fixed-rate mortgage interest rates are still quite low - they are floating at around 8 percent, therefore, it is a good time for anyone shopping for a mortgage.

"Low interest rates, confidence in the economy and employment stability are combining to increase home sales," explained Orest Mostowy, owner of Desna Realty in Newark, N.J. Some realtors have claimed that home owners in some cases have received multiple offers for fairly priced homes, although nobody has bid over the asking price.

If you are looking to buy a new home or are looking to refinance your existing mortgage, as a member of the Ukrainian National Association, you are entitled to participate in the UNA's special First Mortgage Program, designed to meet the specific needs of members. The UNA offers financing for owner-occupied one-, two- and three-family homes throughout the United States and Canada.

Loans available from the UNA are offered at low interest rates that very competitive with prevailing rates in your area. As members, you are entitled to a special rate.

The UNA offers its members five-year adjustable and 15-year fixed-rate balloon mortgage loan with 15-through 25-year payouts. And, they come with an option to refinance at maturity.

The maximum amount of a loan is 66 percent of the purchase price or appraised value, whichever is lower. However, if the loan exceeds $100,000 then the maximum loan amount is 50 percent of the purchase price or appraised value, whichever is lower.

Those applying for a first mortgage loan must be insured with the UNA. To qualify for the First Mortgage Loan Program, members must each be insured for at least 50 percent (Term Life, a minimum requirement) of the loan amount applied for.

The UNA also provides a Jumbo Mortgage Loan Program, also at very good rates, to Ukrainian churches and organizations. Over the years the UNA has helped thousands of members and organizations. The UNA is always ready to help its members determine what kind of mortgage loan best suits their needs. UNA members can enjoy peace of mind in knowing they are getting the best loan value available, along with first-class service. "Good Service" is our motto.

To find out more about the UNA's First Mortgage Loan Program, refinancing your existing loan, or about becoming a member, call Stephan Welhasch at 1 (800) 253-9862.

Stephan Welhasch is investment manager at the UNA Home Office.

Winners are selected from 80 entries in Soyuzivka Amateur Photo Contest

by Oksana Trytjak

The Ukrainian National Association's recent Soyuzivka Amateur Photo Contest was a huge success based on the number of entries received - over 80. Thanks to are due all who participated, with a special "thank you" to the judges, Roma Pryma-Bohachevsky, Roman Iwasiwka and George Kozak. The judges had a difficult time choosing winners from among all the interesting photos.

With this article, the Ukrainian National Association and Soyuzivka are proud to present the winners of the Soyuzivka Amateur Photo Contest: Theresa Kuritza, Talia Lenec and Roman Semczuk.

Honorable mention goes to the following: Marusia Chopivsky by Sophia Chopivsky; Baiba Dubovska by John Pletenecky; Marko Lieber by Ms. Kuritza; Lalia Chopivsky Benson by Sophia Chopivsky.

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The wonderful colors of fall are approaching, providing the perfect setting for you to enjoy some of the best things in life: family, friends, fresh air, good food and good times. Pack the kids, call some friends and visit Soyuzivka for the weekend. Don't forget to take your camera. The second Soyuzivka Amateur Photo Contest is beginning now. More information about the contest will appear in The Ukrainian Weekly and Svoboda.

Oksana Trytiak is the UNA's special projects coordinator.

Pennsylvania branches join forces to hold golf tournament and picnic

On Saturday, July 20, 66 golfers and 10 volunteers comprising guests from UNA Branches 120 and 161 gathered at the Rolling Acres Golf Course in Beaver Falls, Pa., for a golf tournament followed by a picnic. The event was organized by James T. Helm, Mark Szedny and Eli Matiash. Seen in the photo above are: (from left) Mr. Szedny, Leonard Popps, Mr. Matiash, Ron Evushak, Carl Moskala and Mr. Helm.