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stimulus: Nicole's Week in Review - 02/23/09 09:55 PM

The $787 Billion stimulus plan called the American Recovery and Reinvestment Act (HR 1) conquered headlines last week when it was signed into law on Tuesday, February 17th. Portions of the bill of particular interest to the real estate community are: The $8,000 First-time Homebuyer Tax Credit and $11 Billion Appropriated to USDA Rural Development Loans (click the links for details on those portions of the bill).
A day before our gargantuan stimulus passed, President Obama also announced details of his Homeowner Affordability and Stability Plan which he hopes will stabilize housing by reducing foreclosures and keeping mortgage rates low. … (0 comments)

stimulus: USDA's $0 Down Program Receives Over $11 Billion in Latest Stimulus - 02/23/09 05:01 PM
 

USDA's Rural Housing Service was another recipient of stimulus funds last week through HR 1. This comes as a surprise -- a representative from my local Rural Development (or RD) office said last week they were not anticipating a new appropriation of funds from Congress until March. USDA direct loans received $1,000,000,000 and guaranteed loans received $10,472,000,000 in last week's stimulus.
The country burned through RD funds last year as the loan program became wildly popular since it was one of the VERY few $0 down loan programs. Much like FHA, RD does not fund loans, but provides lenders … (4 comments)

 
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Nicole Lahti, Austin Texas Mortgage

Austin, TX

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United Lending

Address: 8303 N. Mopac Bldg. A-201, Austin, TX, 78759

Office Phone: (512) 592-5468

Cell Phone: (512) 507-8312

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