USDA 100% loan extended- This affects rural areas of Maricopa and Pinal counties

USDA released news this AM that all eligible areas will remain eligible until Dec 2014 (tentatively). Therefore, we have a bit more breathing room to wrap up our USDA files. Please see notes below and good news indeed my friends!

The USDA maps have been delayed once again! The Continuing Resolution had language in it that would not allow federal funds to reclassify eligible areas. The delay will last the length of the CR at that time the areas could potentially be extended once again. If the Republicans gain control of the Senate, more than likely another CR would be passed until the end of March. If the Democrats remain in control then more than likely an Omnibus bill will be passed and the changes to areas will be implemented.

On September, 19, 2014, “Continuing Appropriations Resolution, 2015,” (Public Law 113-164) was signed by the President. The continuing resolution extends a current general provision regarding housing program eligibility. This means that if a community is eligible today, they will remain eligible under the continuing resolution. Barring further Congressional action, RHS will delay implementation of the revised rural area maps based on the changes to the rural area definition as revised in the Agricultural Act of 2014 (Pub. L. 113-79). During the continuing resolution and as provided in the FY 2014 Appropriations Act (P.L. 113-76), RHS will not reclassify any area eligible for rural housing programs on September 30, 2013 as not eligible for such programs. The “Future Eligibility Maps” are posted on the Eligibility Website.usda-guaranteed-loans