Wednesday, April 14, 2010

Breaking News! Rep Shelly Capitio Introduces Bill To Resolve USDA Funding Crisis

I am pleased to share with you that a supplemental bill has been introduced today by Republican Shelly Capito, Mrs. Capito happens to be a ranking member of the Financial Service Committee and Subcommittee on Housing and Community Opportunity. Below is a copy of the announcement.

Capito Introduces Bill to Continue Access to Home Ownership in Rural Communities

This Legislation Would Increase USDA Rural Housing Loan Guarantee Program’s Capital Reserve - Washington-Rep. Shelley Moore Capito, R-W.Va., the Ranking Republican Member of the House Financial Services Subcommittee on Housing and Community Opportunity, yesterday introduced legislation in the House Financial Services Committee to shore up funds for the U.S. Department of Agriculture 502 Rural Housing loan guarantee program. Capito's bill, H.R. 5003, The Rural Housing Improvement Act, would ensure that responsible families in rural communities continue to have access to the credit market to finance their homes.

"I have received hundreds of letters, emails and calls from my constituents, including home buyers and sellers, who are concerned that the 502 loan guarantee program will soon run out of funds," said Capito. "My legislation would continue to assist thousands of responsible, low to moderate income West Virginians who otherwise wouldn't have access to home ownership."

This supplemental bill will resolve the funding crisis and will help us get through the year without any funding interruptions. All concerned USDA GRH originators and other interested parties (real estate agents, builders, settlement agents, appraisers, community leaders, etc.) are encouraged to contact their members of Congress and Senate regarding their support for this bill. Please
click here, and take 20 seconds to email our congress rep in WA State!