I know when our house was built 26 years ago, alumni put up quite a bit of money to build it. When they built on to the house 15 years ago, it was mortgaged. I think we've mortgaged it again since then. We are still paying it off, though it should be paid off in the next few years. The housing corp. garauntees the loan. They are a corp., made up of alumni, that owns the house. this makes it easier to get loans, and makes insurance rates lower. since the active chapter, who has brand new members every four years could grow or shrink in size, or even fold, it's hard to get things done, but with a housing corp., it's much easier.
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Steve Corbin
Lambda Chi Alpha
Theta Kappa Zeta Chapter
Rose-Hulman Inst. of Tech.
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