Proposed USDA Changes Eliminate USDA Home Loans for 90% of Arizonans

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Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

 64 Communities in 7 Arizona Counties Slated for Removal from USDA Rural Home Loan Eligibility

 “Will I be able to get a USDA Home Loan to buy a house?”  The question used to revolve around two main things:  (1) your ability to qualify for the loan and (2) the geographical location of the home.

 No more.  As I write this tonight from Tucson, Arizona, the future of the USDA Home Loan Program for most of the Arizona communities that presently qualify is in jeopardy, and could come to a screeching halt at the end of September of this year.  …and it’s not just Arizona.

 The future of USDA Rural Home Loans is tied up in a huge piece of legislation called “The Farm Bill,” and to no one’s surprise, Congress can’t get its act together.  On July 31, they left on a six week (paid) vacation without extending the present Farm Bill, which will expire at the end of September 2012.

 What Arizona Communities Are On the List to be Eliminated?

 Counties with a hyperlink in blue are affected by the imminent boundary change.  Click a link to see a map of the communities slated to become ineligible in Arizona.

  •  Apache County

 

What Can I Do To Save the USDA Rural Home Loan Program for My Community?

CALL / WRITE / EMAIL your Congressman!  An extension of the Farm Bill has passed the Senate, and is stalled in the House of Representatives.  Click this LINK, then scroll down to find your congressional representative by entering your Zip Code.

Previously Posted on August 12th, 2012 by in USDA Arizona

 

_____________________

I'm Mike in Tucson, your preferred Tucson Arizona Mortgage Lender

NMLS #223495

SUNSTREET MORTGAGE LLC ~ Correspondent Mortgage Bank
Offices in Mesa, Tucson, Sierra Vista & Nogales

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Show All Comments
Rainmaker
1,075,179
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Mike the politicians at work again. This will put the brakes on the fragile recovery of the Real Estate Market and Economy in Arizona....

Aug 13, 2012 04:38 PM #1
Rainmaker
1,758,616
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO

Mike

I'm. surprised to hear that the congress can't get it together. What we all could use is more regulations

Good luck ans success.

Lou Ludwig

Aug 13, 2012 04:46 PM #2
Rainer
30,474
John Hurbon
Homesmart International Tucson,AZ - Benson, AZ

Thanks Mike.

Aug 18, 2012 06:59 AM #3
Rainmaker
89,601
Chris Pendleton
Tierra Antigua - Marana, AZ

Hi Mike -

Any update on the timing on the changes...or whether or not they are going to do this??

Jan 12, 2013 12:39 PM #4
Ambassador
720,664
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Chris,

The House has passed, and we expect the Senate to pass a bill that will keep all the boundaries just as they are presently.  Keep your fingers crossed.  I'll post something when that happens.

Mike in Tucson

Mar 08, 2013 11:26 PM #5
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Mike Jones

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