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[A91]A Short History Of The United States

by James Hunt, Jam

No one wants to be caught outside in the rain without an umbrella. These handy devices come in an array of shapes and sizes, many that will conveniently tuck into a purse or glove compartment in case of a sudden downpour. Just about everyone owns an umbrella, but not many of us give them a second thought. What follows is a brief tribute to an item most of us take for granted.

Historians are unsure of when exactly umbrellas came into play. Some say Egypt while others say China. What is for sure is that they've been around a very long time. They weren't intended to protect us from the rain, however. The ancient Greeks and Romans used them as shade from the sun. It was the Roman women who began to oil the cloth of the umbrella to protect it from moisture.

It wasn't until the 1600's that European women began to carry umbrellas, mostly as shade from the sun. Sometime in the 1700's it became popular to carry wood and oilcloth models as protection from the rain. In 1750, an Englishman named Jonah Hanway decided to carry an umbrella everywhere he went. This was unheard of. Only women carried umbrellas. Because of this, he became the subject of much ridicule, but at least he was dry. Ignoring the snickers of those around him, Hanway carried his umbrella for 30 years. By the late 1700's however, it became more acceptable for men to carry ?hanways.?

Because they were made of wood, umbrellas were not only expensive, but they were difficult to operate. In 1852, Samuel Fox invented the steel ribbed kind that we see today. Since then, they've evolved. We now have umbrellas for the rain and sun. We use them on the beach, while playing golf, and on our patios and decks. What would we do without our umbrellas?

In the beginning, a mortgage was just a conveyance of land for a fee. The buyer paid the seller a set rate, with no interest, and the seller would sign over the land to the buyer. There were usually conditions that had to be met before the land would be the property of the buyer, just like today, but usually it was based upon the assumption that the land would produce the money to pay back the seller. So, a mortgage was written due to this fact, and the mortgage stayed in effect no matter if the land produced or not.

But this old arrangement was very lopsided in that the seller of the property, or the lender who was holding the deed to the land, had absolute power over it and could do whatever they liked, which included selling it, not allowing payment, refusing payoff, and other issues which caused major problems for the buyer, who held no ground at all. With time, and blatant abuse of the mortgage system, the courts began to uphold more of the buyer's rights so that they had more to stand on when it came to owning their land. Eventually, they were allowed to demand the deed be free and clear upon the payoff of the property. There were still steps taken to ensure that the seller still had enough rights to keep their interest safe and make sure that their money was paid.

In the U.S., some states have created their own version of the mortgage, which is why they are referred to as “lien states”. In England and Wales, the Law of Property Act of 1925 created a close parallel to the U.S.'s stance on mortgages. In 1934, mortgages began to be widely used again in the U.S., and the Federal Housing Administration helped to lower the down payments on homes to make it easier for buyers to purchase a home. During that time, around 40% of people in the United Sates owned homes. Now, that number is closer to 70%, due to the lower interest rates.

Although mortgages today have evolved into many different forms, they are still basically the same essential contract that they were in the beginning. Now, there are many more laws and regulations to help protect the buyer, seller, and creditor. There are also many different ways to lock in a low interest rate, you just need to talk to your mortgage broker about what the rates are now and what kinds of programs they offer to keep those interest rates low throughout the life of your loan.

Article Source : History Of New York

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Both James Hunt & Connie Barker are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

James Hunt has sinced written about articles on various topics from History, Virtual Private Network and Mobile Phone Reviews. James Hunt has spent 15 years as a professional writer and researcher covering stories that cover a whole spectrum of interest.Read more at