Is the USDA BROKE?Last week the USDA’s national office in D.C. provided a statement that they believe that the funds for USDA Rural Home Loans will be OUT by the end of April.
A similar thing happened last year as the funds ran out in March. During that time many lenders pulled out of the USDA market. However we did continue to fund USDA Rural Home Loans.
This year looks similar in many ways and many lenders have already pulled the plug on USDA loan applications. Wells Fargo is no longer accepting USDA applications from it’s mortgage brokers.
For us it is business as usual and we don’t expect to stop funding unless the Committee on Appropriations gives an absolute no on a special allocation of $12 billion to get us through to the end of the fiscal year in September. We are confident Congress will provide the money considering what is at stake for housing and our national economy.
You need to contact your US Congressman, US Senator, professional lobby and employer to get them working on a solution because if this happens many homeowners will be left out on their loan closing because it simply won’t happen.
Please take 5 minutes and follow the links below to provide your support.
*This is not an offer to lend. 
Obama Refinance Plan For San Jose Homeowners AnnouncedHome Affordable Refinance Program Update Harp 2 Bay Area San Francisco California March 2012 Guidelines for Purchasing a 3 to 4 Unit Property with FHA Financing in Alameda, CA8 Year Fixed to 30 Year Fixed. You Can Choose Your Loan Term In San Jose
