1. CONTENTS (1) RESEARCH OBJECTIVES While constructing lots of apartments has been creating much research related with law system, housing market, housing economic analysis, a detailed discussion about financing public facilities has been rare. This research focuses on two financing methods that have been widely used in the United States. The first one is master trust and second one is guarantee of liquidity. (2) RESEARCH METHOD A Prior research found out that lots of projects lack financial feasibility, so public intervention is essential to solve an unsold apartment problem. Because of our financing system, (3) RESEARCH FINDINGS We can get a very limited financing through master trust. 2. RESULTS This research usually handles with theoretical aspects on financing master trust and guarantee of liquidity. Therefore more advanced research needs to continue.