We have tons of people buying houses right now, and calling us because they understand that USDA Rural Development will be changing it’s maps effective September 30, 2013. This is a HUGE big deal in North Carolina because we get Rural FAST here, and with the new way USDA is going to be required to classify RURAL – we lose the USDA Home loan Program in one THIRD of our State!
Congress could change that – there’s a Senate Bill that’s already been passed that grandfather’s in changes, the House, unfortunately, has not been able to agree on a USDA (or much else, frankly).
Agriculture Secretary Tom Vilsack said in December that there is a genuine risk the deeply divided U.S. Congress will not complete work on a new five-year farm bill in time for the USDA Map changes, which are slated for September 30, 2013. The full House never took a floor vote on a five-year farm bill that passed out of the House Agriculture Committee in July with bipartisan support. Apparently there are Republicans that want more cut from Food Stamps!
The extension of the Ag Bill that kept MILK from going to 7 bucks a gallon doesn’t appear to have wording that would keep the USDA Home Loan Map Change from going into action September 30, 2013.
Our suggestion?? Contact your Congress (House Members especially) and tell them we need the Maps for USDA to stay as they are! The USDA RD Program is an important one and shouldn’t be changed right now as we are trying to get more houses sold!
Did you know? In 2012, Rural Housing programs helped:
- 7,940 families access safe, affordable homes, through approximately $900.9 million in Section 502 Direct Loans;
- 145,100 families purchase their homes with the help of a Section 502 Guaranteed Loan;
- 7,000 homeowners repair their homes with a home repair loan or grant;
- 270,000 families access affordable rental housing through $904.7 million in rental assistance; and
- 1,700 families move into new apartments through $122.6 million in rental housing development, $104.3 million in rental guaranteed loans, and $5.5 million in housing for farm workers and their families.
Remember, this is a great resource to share with your Senators and Representatives. Let them know what’s at stake if Congress fails to act and the new “rural” definition takes effect!
Want more information on USDA Home Loans? We do tons of them each month and we would be glad to help you get qualified. Call Steve and Eleanor Thorne 919 694 5057
I try and answer all questions :)