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USDA funding...
DO NOT PANIC...
I've received numerous calls and emails about this very topic.  I understand there are various notices floating around from lenders essentially claiming that USDA is pulling the program.  Apparently, some of the "big boys" are pulling out of the program and as a result have decided to employ scare tactics.  I'm sure there will be more to join the bandwagon. 
Many lenders who traditionally in the past have not focused on the program are claiming that USDA is no longer accepting files.  This is untrue. 
On March 9th, USDA issued a statement that funding is likely to be exhausted by the end of April, 2010.  At this point the Government does not know what pool of funds the funding will come from.  However, our sources tell us that there is a strong possibility that funds could become available by the end of April.
 While funds are typically exhausted towards the end of the government's fiscal year in September, USDA runs out of funds for the program every year.
In previous years when there has been a shortage, USDA would set aside funds from other areas to make up for any shortage of funds allowing lenders the opportunity to continue to fund USDA loans.  When this ... more

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