Rural Development gets an extension for our area. Here is the email I just received.
LOUISIANA MORTGAGE LENDERS ASSOCIATION
Website: http://www.lmla.com email: office@lmla.com
BREAKING NEWS!! GUARANTEED RURAL HOUSING DISASTER FUNDS RECEIVED IN LOUISIANA!!
Rural Development in Louisiana has received approximately $321 million in 2005 and 2008 Hurricane Disaster funds. These funds will be used to obligate guaranteed rural housing loans in the 52 declared disaster parishes in Louisiana. In the 11 non-declared disaster parishes of Bienville, Bossier, Caddo, Caldwell, Claiborne, Jackson, Lincoln, Red River, Webster, Desoto, and Natchitoches (Orleans Parish ineligible), we will use regularly appropriated funding based upon availability.
With the receipt of disaster funds and based upon current loan volume, it appears we will have adequate funding for the Guaranteed Rural Housing program in Louisiana for the next few months. We encourage you to submit complete eligible loan applications to our office for processing.
Debbie B. Redfearn / Single Family Housing Program Director Rural Development U. S. Department of Agriculture
It seems to me that between Rural Development and NFIP, the real estate industry is going to limp along through the year. Not sure if these actions really inspire a feeling of confidence, or not. What do you all Think?
Gareth Beale is the Marketing Director for Choice Title LLC, you can respond here, or contact him directly Gareth@choicetitle.com
