USDA Funds have been exhausted. I have mentioned in the past that this was coming. The House of Representatives has passed Rural Housing Preservation and Stabilization Act of 2010 (H.R. 5017). To allocate more funds to this program. But, it is currently in the Senate and it has not been passed. There has been a significant increase in demand for USDA loans as a result of the economic crisis over the past two years. The number of rural home loans has tripled since 2006, while federal funding has failed to keep up with the growth of the program. Please check my website www.DaveYourMortgageGuy.com for updates on this program. Let's hope the Senate passes this soon!
- Topic: ActiveRain Community
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