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STANDARD FEDERAL JOINS IN CONDUCTING HOMEARAMA DETROIT

 STANDARD FEDERAL JOINS IN CONDUCTING HOMEARAMA DETROIT
 TROY, Mich., May 18 /PRNewswire/ -- Standard Federal Bank,


Michigan's leading home mortgage lender, is participating in HOMEARAMA Detroit, the nation's first showcase of homes to be held in a major city. Over 20 new homes, constructed by members of the Builders Association of Southeastern Michigan (BASM), will be on display in the Victoria Park subdivision from June 4-21.
 Standard Federal provided construction loans for the model homes and will offer mortgage financing to qualified buyers of homes in the subdivision. The bank has also received two grants under the Federal Home Loan Bank of Indianapolis Affordable Housing Program to assist a limited number of mortgage applicants with low to moderate incomes.
 The bank will have an information booth in the HOMEARAMA exhibit area during the show. Discount coupons, good Monday through Friday, will be available at local Standard Federal Banking Centers two weeks prior to the show.
 Garry G. Carley, executive vice president and chief lending officer of Standard Federal Bank, stated, "Victoria Park is the product of a shared vision. Standard Federal is proud to join with BASM, the City of Detroit and the Jefferson-Chalmers Non-Profit Housing Corporation in conducting HOMERAMA Detroit."
 "We believe that HOMEARAMA Detroit at Victoria Park is just the beginning of a rebirth for single-family housing in the city," said Carley. "It provides an example of neighborhood revitalization for the nation as well."
 The Victoria Park subdivision is located on Dickerson, two blocks south of Jefferson, four miles east of I-75. Each model home in HOMEARAMA Detroit is fully furnished and features the latest in living convenience and construction. The homes are priced from $80,000 to $145,000.
 Standard Federal Bank (NYSE: SFB) is headquartered in Troy and has assets of $9.6 billion. The bank operates 120 branch offices in Michigan, Indiana and Ohio.
 -0- 5/18/92
 /CONTACT: William R. Yaw Jr. of Standard Federal Bank, 313-637-2520, 800-482-3930 (in Michigan), or 800-874-3716 (in Indiana)/
 (SFB) CO: Standard Federal Bank ST: Michigan IN: SU:


KK-ML -- DE011 -- 1276 05/18/92 11:23 EDT
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Publication:PR Newswire
Date:May 18, 1992
Words:347
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