As many of you know, we have received the email below from USDA regarding program funding. Due to the fact that Rural Housing will no longer issue conditional commitments "subject to receipt of appropriated funds", when the money is gone, we will not be able to continue the program, as our investors will be unable to purchase.

It is imperative that we all email our congressmen and women, and our senators, making them aware of the need for appropriation of these funds. When emailing, please reference the need for funding for the USDA Section 502 Guaranteed Rural Housing program.

It is also important that we educate our Realtors and builders and encourage them to contact their representatives in Washington.

If funds are not appropriated before the end of April (or before if it runs out sooner), we will no longer be able to offer the USDA program.?

March 10, 2010 (email from USDA)

Notice of Funding

This message is to notify you that program funding for the Single Family Housing Guaranteed Loan Program will likely be exhausted by the end of April, 2010.

Once funding is exhausted, the Agency will not issue Conditional Commitments "subject to receipt of appropriated funds." This is because it is not certain when additional funding will be available.

Limited funding may become available for disaster areas declared in 2008, or in disaster areas declared for Hurricanes Katrina and Rita. Limited funding may also become available as prior Agency commitments are de-obligated, however, such funding will be very limited.

We apologize for any inconvenience this may cause you. Should you have any questions, you may contact the Single Family Housing Guaranteed Loan Division at (202)720-1452.