Skip to main content
#
The Trentini Team
my account
site map
contact
cart
our twitterour facebook page
Evansville  Real Estate - Homes For Sale | Indiana Realtors - Agents
Search Evansville & Newburgh, Indiana Properties
Featured Listings
Evansville Real Estate - Homes for Sale | Indiana REALTORŪ
Newburgh Real Estate - Homes for Sale | Indiana REALTORŪ
Relocating to Southwest Indiana?
Buying and Selling Southwest Indiana Homes
About The Trentini Team - F.C. Tucker Emge REALTORSŪ - Southwest Indiana REALTORŪ

Real Estate Blog
Latest Posts
Categories

 Real Estate Blog 
Wednesday, August 04 2010

 

Last week, Congress passed legislation to restore funding to the 502 single-family rural housing program. The legislation will increase the guarantee fee for borrowers (but still allow it to be financed), which will make the program self-sufficient. The legislation also increases the commitment authority so Rural Housing Service can formally guarantee loans (they had been providing conditional commitments).

Also, the House Financial Services Committee approved H.R.4868, the Housing Preservation and Tenant Protection Act of 2010, which aims to stem the loss of affordable rental housing units and prevent the displacement of low-income tenants.

The Rural Housing program had run through its $13.1 billion funding by early this year and many buyers hoping to finance home purchases using Homebuyer Tax Credits were unable to close their loans.Depleted funding has been a nearly annual occurrence for the program that guarantees loans for single-family homes in designated exurban and rural areas.The new legislation will end the annual uncertainty by putting the program on a self-funding basis through enacting a 3.5 percent guarantee fee paid by the borrower. The fee, while substantial, can be included in the total amount financed.

Source: NAR and MortgageNewsDaily.com, Jann Swanson, (07/30/2010) http://www.realtrends.com/go/view_media.php?mp_id=9797&cat_id=1488
Posted by: Rolando Trentini AT 08:00 am   |  Permalink   |  0 Comments  |  Email
Email
Twitter
Facebook
Digg
LinkedIn
Delicious
Google+
StumbleUpon
Add to favorites

The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


Accredited Buyer Representative

Equal Housing Opportunity

Multiple Listing Service?

REALTORŪ

 

Pro Step Marketing

PRIVACY POLICY
The Trentini Team is the sole owner of the information collected on this site. Neither The Trentini Team nor the team associates will sell, share, or rent this confidential information to others. Your privacy is the primary issue for The Trentini Team. 

CONTACT POLICY
By submitting personal information such as name, address, phone number, email address and/or additional data, the real estate client/prospect consents that The Trentini Team or their authorized representative may contact client/prospect by phone, U.S. Postal System, or e-mail whether or not client/prospect is participating in a state, federal or other "do not contact" program of any type.
 
 
Copyright© 2007 The Trentini Team, REALTOR®, All Rights Reserved.
Site Powered By
    prostepmarketing.com
    Online web site design