Today, rural homeowners in 19 states across the nation are getting some much-needed and long-awaited help to cope with declining home values and a sluggish housing market.
Secretary Vilsack announced today a pilot program to help rural borrowers with loans made or guaranteed by USDA refinance their mortgages to reduce their monthly payments. This initiative is part of the president’s on- going efforts to help middle class families, create jobs, and strengthen the economy. Since the Obama Administration took office three years ago, Secretary Vilsack has worked closely with the White House to ensure that rural Americans continue to enjoy the many benefits of homeownership. Read more »
As we begin the year, I want to share with you a few numbers that help measure USDA’s impact for America’s farmers, ranchers and rural communities over the past three years:
- To help keep American agriculture profitable and keep farmers on the farm, USDA maintained a strong safety net. Over the past three years, our crop insurance program has paid out about $16.2 billion to more than 325,000 farmers who lost crops to natural disasters. Other programs have provided nearly $3.5 billion in aid to help more than 250,000 farmers and ranchers recover from natural disasters. Read more »
USDA is making an effort to transform the workplace so that all customers are provided the opportunity for success and the numbers show the department is making progress.
The Farm Service Agency (FSA) announced this week that it has significantly reduced the number of civil rights complaints in fiscal year 2010 to the lowest level in the agency’s history, while increasing the number of loans and dollars obligated to programs dedicated to minority and women farmers for fiscal year 2011.
“The loan numbers reflect the significant progress we have made in the effort to equally serve all eligible applicants for FSA program support,” said FSA Administrator Bruce Nelson. Read more »
USDA Rural Development Rural Utilities Service Administrator Jonathan Adelstein and the Rural Development Broadband Division Staff welcomed over 200 people to the National Broadband Workshop on April 20 – 21, 2011 in Downtown Denver.
While rural communities face unique challenges in creating and sustaining good jobs, they are also presented with unprecedented opportunities for economic growth. Increasing their access to broadband is one way in which Rural Development can assist communities on this journey. Providing broadband service to our rural communities is a vital platform for job creation and a springboard for economic development for years to come. Workshop sessions held focused on a variety of topics including financial analysis and business plan preparation. Read more »
Beadle and Spink Enterprise Community (BASEC) just made its 500th loan and through its revolving loan program has loaned over $16 million dollars to improve the economic and housing climate of part of South Dakota since 1996. BASEC (named after the two counties it serves) has less than a 1 percent default rate and has made loans to all income levels with the majority being low to moderate income applicants. Some of the borrowers have had excellent credit histories and some not so good. Executive Director Lori Hintz feels the key to the low default rate besides the fact that great people live in the service area, is that when times get tough, they try to work out a plan that works for them, their cash flow and their situation. Read more »