Just a quick note to update you on the status of USDA. There are currently 3 versions of the bill in the Senate. All are very close in structure. One of the bills have been attached to a supplemental spending bill that needs to get done to fund the armed services and war effort in Iraq. If all goes well, a vote should happen sometime next week. If not, our legislators will be on Memorial break from 5/31 until 6/7 which would push the process back to the end of June best case. Until then, if you have disaster funds in your state/county, you can submit to USDA for their approval certificate. Without it, USDA loans cannot close. Once the bill is passed and signed by the President, USDA will need to retool their IT. They have already been working on this in anticipation of passage so the process should not take long. Once again, fingers crossed for good news next week. Any questions about your home financing, please call or email me, Max Leaman: (512) 293-1239.
USDA Has 3 Versions of Bill in Senate
May 24, 2010|Austin Mortgage Market|
About the Author: Max Leaman Austin Mortgage
Great Rates, Low Fees, Close on Time® – (800) 301-3405 Since 2001, Leaman Team has helped clients to purchase, refinance and renovate. The biggest distinction between lenders is their honesty, customer service, and ability to close on time.
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