HOUSING: Easier Trade-Ins

If houses only could be sold like cars —with trade-ins made easy—the housing market would really boom. Last week Federal Housing Administration Chief Julian H. Zimmerman spelled out the details of a trade-in plan that is expected to become law this year, since it is in all three housing bills now before Congress.

Under the plan, a homeowner who wants to move or trade up can sell his house to a real estate broker or builder for an agreed price. The broker or builder can get an FHA-insured loan equal to this price if he puts an amount equal to...

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