Last Updated:
May 28, 2010
Alabama Real Estate
Local Board Presidents & Chairs Send Letters On USDA Guaranteed Rural Housing
Last week, our local Board Presidents & Chairs sent letters to our Colorado Senators and Representatives asking for additional funding for the USDA section 502 Guaranteed Rural Housing Loan program. The National Association of REALTORS? followed with a call to action to all REALTORS? nationwide. The USDA Guaranteed Rural Housing Loan Program (section 502) is nearly depleted of funding approved by Congress for FY 2010. In fact, Congress appropriated $13.5 billion for loans this year, and as of 3/15, $9.5 has been used. That leaves $4 billion for loans and refinances for the remainder of the year. USDA Rural Development expects the funds will be gone by the end of April. This has been a very important source of home loans for low to moderate income families nationwide. Without access to these funds, mortgage lending will further decrease in an already difficult lending environment. Colorado Representative John Salazar sits on the House Appropriations Committee which has the authority to release additional funding. If you have not participated in the call to action, please go to www.realtoractioncenter.com and make your opinion know!
On Friday, we voted to endorse these individuals because of their dedication to protecting private property rights, while striving for the betterment of the communities they live in. A healthy real estate market is an important component of our towns? economic recovery, and as our local economies come back we know these candidates will work hard to improve the economic vitality and business competitiveness of our communities in Summit County. A vibrant economy creates jobs, expands the tax base, and enhances and revitalizes our communities, making them better places to live. REALTORS? are held to a strong code of ethics, which includes social responsibility and a patriotic duty to which REALTORS? dedicate themselves.
We urge you to vote for Rodney Allen and Ben Brewer in Breckenridge, Jason Smith in Dillon, & Russ Camp in Silverthorne.
The Board of Directors of the Summit Association of REALTORS?.