Only 2 more days to go before several programs under the Farm Bill are set to expire. Many programs have run out of funds, and cannot be used until the 2008 Farm Bill is passed which will put forth the funding allocations for the next 5 years. The House and Senate each put forth their own proposals, and are 6 months overdue in coming to terms and approving a 2008 Bill that will then need to go before the President. The Farm Bills are the legislation necessary to fund so many programs administered by the US Department of Agriculture, from Food Stamps to Crop Subsidies to Family Farm Loans.

For our area here in Southern Oregon and Northern California, a number of these programs are used for rural development, crop subsidy, nutrition, stewardship, biofuel, farm export, and specialty crop programs. WE NEED THIS BILL TO BE PASSED! President Bush has suggested that Congress at least extend the current Farm Bill under its current funding for a year so critical agricultural programs do not expire this Friday. The usual Bill attachments, have bogged the approval process down, but the House and Senate have agreed to drop one of these major stumbling blocks, $2.5 billion in tax breaks for timber interests, conservation groups, biofuels producers, wind farmers, capital gains changes and others, and will hopefully address those needs separately without holding up funding for the programs we now use any longer, such as:

Beginning Farmer Down Payment Loan

A type of farm ownership loan made to eligible applicants to finance a portion of a real estate purchase. The statutory authority for beginning farmer down payment loans is section 310E of the Consolidated Farm and Rural Development Act (Pub. L. 87- 128) (7 U.S.C. 1935).

Guaranteed Farm Ownership Loan

A loan made by another lender and guaranteed by FSA to eligible applicants to purchase, enlarge, or make capital improvements to family farms, or to promote soil and water conservation and protection. Maximum loan amount is $852,000 (for FY 2006). A percentage of guaranteed farm ownership loan funds is targeted for beginning farmers as mandated by sections 346 and 355 of the Consolidated Farm and Rural Development Act (CONACT) (Pub. L. 87-128) (7 U.S.C. 1994 and 7 U.S.C. 2003), respectively. The statutory authority for guaranteed farm ownership loans is section 302 of the CONACT (7 U.S.C. 1922).

Guaranteed Operating Loan

A loan made by another lender and guaranteed by FSA to an eligible applicant to assist with the financial costs of operating a farm. Maximum loan amount is $852,000 (for FY 2006). A percentage of guaranteed operating loan funds is targeted for beginning farmers as mandated sections 346 and 355 of the Consolidated Farm and Rural Development Act (Pub. L. 87-128) (CONACT) (7 U.S.C. 1994 and 7 U.S.C. 2003), respectively. The statutory authority for guaranteed operating loans is Section 311 of the CONACT (7 U.S.C. 1941).

Full-Time Farm not what you were thinking of? Part-Time Farm/Ranch more along the lines of what you are looking for? There are great programs available to help you accomplish your goal.

With the tremendous demand we're seeing for organic and local foods, let's get this 2008 Farm Bill in place and encourage the next generation of producers who want to be a part of this movement that represents opportunities for beginning farmers and ranchers, and help them take advantage of the lowered interest rates and better terms for Beginning Farmer and Rancher Down Payment Loans, a higher loan limit on direct operating and direct ownership loans, a revitalized conservation loan program with a preference for beginning farmers and ranchers contained in this proposed 2008 Farm Bill.

Together, we CAN make a difference!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com