Since Congress did not pass a FY2013 budget, and instead the government is working under a Continuing Resolution, funding for some programs has been slow. The Rural Housing Service (RHS) has been experiencing a number of slow downs and delays in closing due to funding. But RHS has now announced that funding for FY13 is now available, so all loans should move forward.
This is a different issue than the rural housing definition change. NAR continues to work to ensure that rural communities don't lose these valuable programs. We encourage all REALTORS® to respond to the Call for Action to protect rural housing programs.
Tell Congress to preserve access to safe and affordable mortgages.