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USDA Rural Housing Update: Fundings Dry Up Across the Country

By Implode-Explode Heavy Industries

""Every year USDA runs out of money for their fundings and normally you are not affected by this however, this year is very different. The USDA Section 502 guaranteed Rural Housing Program will have exhausted there 2010 fiscal funds by the end of April. The USDA would need to receive about $150 million in funding to be able to continue funding loans for the rest of fiscal year 2010.""

Full post as published by Mortgage Lender Implode-o-Meter on May 22, 2010 (boomark / email).