YIPPEE!!! H.R. 5017 PASSES IN COMMITTEE!!!
Folks, it appears the political wheels are finally turning in favor for the USDA Rural Housing Program!
Today, the House Financial Services Committee unanimously passed H.R. 5017, better known as the Rural Housing Preservation and Stabilization Act of 2010.
What this bill proposes is a complete resolution to the current funding shortage surrounding the USDA Rural Housing Program by allowing the program to pay for itself, rather than rely on federal funding to allow the continued access of the program for potential homebuyers. In order to pay for the program, lenders could pay up to a 4 percent fee on new home mortgages.
Stay tuned...the U.S. House of Representatives is expected to take up the bill as early as next week!
Jeff Wilmoth | HomeStar Financial Corporation...Serving all of Georgia!
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