THE UKRAINIAN NATIONAL ASSOCIATION FORUM (04/27/97)

THE UKRAINIAN NATIONAL ASSOCIATION FORUM

Convention Committee established for quadrennial conclave in Toronto

JERSEY CITY, N.J. - The Convention Committee for the Ukrainian National Association's 34th Regular Convention, to be held in May 1998 in Toronto, was established here at a special meeting attended by representatives of branches of the Toronto District Committee on April 13.

The local committee, which is in charge of planning all cultural and entertainment programs for the UNA convention, is headed by the Rev. Myron Stasiw, who is a UNA advisor. Other members are: Wasyl Didiuk (honorary member of the UNA General Assembly), vice-chairman; Iwan Szlapak, secretary; Roman Benesz, treasurer. Subcommittee heads are: Mr. Didiuk, press; Jaroslawa Zorych, concert; Anna Burij, banquet; Stephan Chorney, information; Larysa Hwozdulych, greetings.

The next meeting of the Convention Committee has been scheduled for May 18 at 3 p.m. at Holy Protectress Ukrainian Catholic Church, 18 Leeds St., Toronto. The meeting will be attended by UNA President Ulana Diachuk.

The UNA and you
Great time to refinance

by Stephan Welhasch

With one exception, interest rates have not been lower since 1973. It's a great time to refinance, especially as people look to the New Year and set their financial goals and priorities. In most areas, fixed-rate mortgages have now dropped below 7.5 percent. Financial experts in the industry feel that interest rates will probably not drop any lower. Many people feel that they will probably begin to rise again soon. The Federal Reserve has just increased the interest rate a quarter of a percent.

If you are now paying more than 2 percent above the current rate of interest and you're not planning to move in the near future, then now is definitely the time to seriously consider refinancing your existing mortgage loan. Many first-time home buyers and veteran homeowners have been taking advantage of today's low interest rates.

Back in 1993 rates fell below 7 percent, and this set off a wave of refinancing nationally. By mid-1994 interest rates jumped to well over 9 percent and many homeowners and buyers decided to wait it out. Now that mortgage rates have bottomed out and have just begun to rise again, many are rushing to refinance. Don't wait too long, rates can always shoot up again as happened in 1994.

Even though most people understand that in the long run they can save themselves much money by refinancing, many are still afraid of the costs connected with the loan closing process. The key to successfully refinancing is to consider where the break-even point is. This takes into account any fees and points charged for refinancing. These need to be compared with any savings in payments over the life of the loan.

If you are shopping around for a new mortgage, call the Ukrainian National Association and our representative will take the time to help you with any questions you may have about mortgages and help you decide what type of mortgage is best suited for your needs. Practically, the only other thing you'll need to do is prepare and sign the documentation. What follows is paying less and saving more.

If you're ready to take these steps by refinancing your existing mortgage loan or are considering buying a new home, then start by calling the UNA. We offer members low-cost financing for owner-occupied one-, two- and three-family homes throughout the United States and Canada.

The UNA's First Mortgage Loan Program is specially designed to meet the financial needs of its members, and it offers interest rates that are very competitive with the prevailing rates in your immediate area. The UNA offers its members five-year adjustable and 15-year fixed rate loans with up to 25-year payout, including an option of refinancing at maturity. The UNA also offers a Jumbo Mortgage Loan program to Ukrainian groups and organizations.

You can enjoy peace of mind in knowing that you are getting the best possible mortgage loan value available. To find out more about the UNA's First Mortgage Loan Program, refinancing your home, or becoming a member, call 1 (800) 253-9862.

Young UNA'ers

Andrew Matthew Holowaty, son of Andrey Holowaty and Marta Huta-Holowaty, is a new member of UNA Branch 432 in Toronto. He was enrolled by his parents.

Petro K. Slewinsky, son of Roman and Soara Slewinsky, is a new member of UNA Branch 59 in Bridgeport, Conn. He was enrolled by his grandparents Mr. and Mrs. Taras Slewinsky.

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