I just got an email from the South Carolina USDA office stating the below - at least the delay isn't due to lack of funds, etc. and is just because HUD is taking a little longer to come out with their 2009 income limits:
A notice will be published in the Federal Register this week changing the effective date for the consolidated income bands from March 20 to April 20, 2009.
The reason for the change is that the USDA Rural Development receives the basis for its income limits from the Department of Housing and Urban Development (HUD) and HUD has not published their 2009 income limits as early as they usually do.
Once Rural Development receives HUD's income limits, Rural Development must make a number of adjustments. After the adjustments are made, the Information Technology staff must make changes to our automation tools, for example, our eligibility website (link below) and our Guaranteed Underwriting System (GUS). Making those changes includes testing them to make sure they work properly.
www.rurdev.usda.gov/rhs
www.rurdev.usda.gov/rhs/sfh/GSFH_Information/GSFH_Specific.htm
Shane Milne
Loan Officer
Banner Mortgage
949-273-4161 phone
www.thebesthomeloans.com
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I hear you on that one. I love USDA and it's amazing how few people know about it. A lot of properties down here dont qualify but you would be amazed at how many that do.