Cut-rate loans bait for GIs?

The US Army, in seeking to sign up more recruits, may do well to note what California is doing to spur enlistments in the National Guard. The state guard, faced with dwindling ranks, is offering home loans at 8- percent interest to members who have put in at least one year of a six-year term.

The new program, with interest rates about 5 percent below prevailing mortgage rates, is financed by $100 million in revenue bonds and provides $25 million a year in loans of up to $55,000.

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