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New Life for USDA Funds? Congress is Trying
 
With everyone watching the countdown to the expiration of the USDA Section 502 funds, a glimmer of hope appeared today
Not one but two House Bills were introduced on the floor of the house today in hopes of keeping this program from fund depletion.
Hopefully they can speed this legislation through both houses and save this program from ceasing.
Below are the two press releases:
Apr 14 2010
Capito Introduces Bill to Continue Access to Home Ownership in Rural Communities
Legislation Would Increase USDA Rural Housing Loan Guarantee Program's Capital Reserve
Washington-Rep. Shelley Moore Capito, R-W.Va., the Ranking Republican Member of the House Financial Services Subcommittee on Housing and Community Opportunity, yesterday introduced legislation in the House Financial Services Committee to shore up funds for the U.S. Department of Agriculture 502 Rural Housing loan guarantee program.  Capito's bill, H.R. 5003, The Rural Housing Improvement Act, would ensure that responsible families in rural communities continue to have access to the credit market to finance their homes. 
"I have received hundreds of letters, emails and calls from my constituents, including home buyers and sellers, who are concerned that the 502 loan guarantee program will soon run out of funds," said Capito.  "My legislation would ... more

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