USDA Update

Good Afternoon-
Well after much lead up that funds where running out- they have officially run out!
This doesn’t mean the program is discontinued- far from it. However as a lender we are in limbo right now. The bill is currently before the Senate for a vote- provided on when Harry Reid puts it up for vote is the main question.
This could be 2 days or 2 weeks- don’t know. By the end of this week we expect to able to continue the program subject to approriation of funds. We thought this was going to be the case on Monday- but hey where dealing with the Government here!

So what does this mean- if you have buyers that are closing in the next two weeks- they need a different program ASAP.
If you have a client closing mid June or later- I expect the program to be back up and running – no worries.

I have gotten a few calls wondering why Rural housing takes so long -it doesn’t when somebody knows what they are doing. I have secured funding for 3 clients prior to the end of the funding-
Don’t miss a commitment or closing date – I will be honored to keep you and your client (and seller) from going crazy!

I will keep you posted….

Steve

Steve C. Baumann Cell: 608-575-8384 Office: 866-834-1333×26 Email Fairway View my Video message

Brad Koenig, ABR, CRS, GRI, E-PRO and Kati Hatfield Client Care Manager
Your Local Home Team, LLC-First Weber Realtors
www.YourLocalHomeTeam.com Search for homes in the area!
Sold
262-719-7393 Office/Cell
262-364-3404 Direct Fax
Proudly Serving Southcentral Wisconsin with Referrals from our Clients
Visit my LinkedIn profile: http://www.linkedin.com/in/bradkoenig
www.FaceBook.com/bradleykoenig or facebook.com/yourlocalhometeam
Follow us on Twitter: http://twitter.com/bradkoenig
Check out our Blog! http://mywisconsinrealestateblog.com/

If you do not wish to receive future emails, please click the link to Unsubscribe: Unsubscribe.

Incoming search terms for the article:

• usda update
• usda mortgage funding update
• 2010 SENATE VOTE ON USDA LOANS
• usda loan 2010
• usda loan funding 2010
• usda loan senate
• usda loans funding update
• USDA mortgage funding update June 2010
• usda phzm
• usda phzm update

Tagged as: government loans, mortgages, usda loan