OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Davis Applauds Passage Of Rural Housing Preservation Act

Press Release

Date: April 27, 2010
Location: Washington, DC
Issues: Agriculture and Food

Today, the U.S. House of Representatives overwhelming passed the Rural House Preservation Act, which would extend the successful USDA Section 502 Loan Program.

"As a former loan officer with the Farmers Home Administration, I fully understand the vital role that USDA loan programs play in developing our rural communities," said Davis. "This important legislation would make the Section 502 program self-sustaining, and would guarantee access to affordable mortgages for families in rural areas like the Fourth District without using taxpayer funds."

Applicants for Section 502 loans must meet certain regional income requirements, and funds from the program can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.


Source
arrow_upward