Texas groups act to prevent the loss of millions in affordable home loans for the poor

The sad utilization failure of the US Department of Agriculture’s low income home loan program in Texas has been worrying us for a long time. But now there is some hopeful news.

Spurred by our report on the funds being turned back unused in Texas, USDA, the Texas Department of Housing and Community Affairs, the Texas Association of CDCs, MET, Inc. and others are now working together to see these funds are used to make loans for low income families in Texas. The first step begins this Thursday.

USDA-Rural Development’s Section 502 Single-Family Housing Direct Loan Program has been a key homeownership financing resource for rural communities for 60 years, assisting low and very-low income families achieve their goals of homeownership across America.  This Thursday, March 11, 2010 at 2:00pm, log-on and participate in an hour and a half audio-web presentation, “An Overview of the Section 502 Program,” facilitated by the Housing Assistance Council (HAC).  Learn how Section 502 works, who benefits, and what this means for assisting eligible families who cannot secure conventional financing in their rural communities.  You will also hear how rural Texas communities and families can work with USDA-RD staff throughout Texas to access this vital program.

To join:

1. Call
Toll-free: +1 (888) 387-8686
Toll: +1 (720) 259-0759
Participant code: 5388827

2. Paste this web address into your web browser:
https://www.livemeeting.com/cc/coppertrial/join

3. Copy and paste the required information:
Meeting ID: N2K9GZ
Entry Code: TXstate502
Location: https://www.livemeeting.com/cc/coppertrial

For questions or more information, contact Dan Stern at 202-842-8600 with the Housing Assistance Council.