THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Tuesday, December 19, 1995 TAG: 9512190322
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Digest
LENGTH: Short : 22 lines
NationsBank Corp. and Boston-based National Assistance Corp. of America housing group announced Monday they will provide $500 million in unusually flexible and inexpensive mortgages for homes in low-income urban areas. The NationsBank and NACA agreement is significant because its unusually flexible terms are designed for the working poor, said John Taylor, executive director of the National Community Reinvestment Coalition. The program initially will be offered in Washington, Atlanta, Baltimore and Charlotte, where NationsBank is based, and will be expanded later. (AP) by CNB