USDA to Announce Expansion of Pilot Program for Borrowers with USDA Home Loans

USDA to Announce Expansion of Pilot Program for Borrowers with USDA Home Loans

WASHINGTON, DC – January 30, 2013 – (RealEstateRama) — TOMORROW, Administrator for USDA Rural Housing Programs Tammye Treviño will announce that USDA is expanding the USDA Single Family Refinancing Pilot Program to help more rural homeowners reduce their mortgage payments. The program is being expanded to include 15 additional states and the Commonwealth of Puerto Rico.

Trevino will also discuss the success of the program so far in the 19 states currently authorized to make loan modifications under the pilot. The pilot was announced in early 2012 by Secretary of Agriculture Tom Vilsack. In addition to Puerto Rico, the states newly eligible for the program include: Alaska, Arkansas, Colorado, Idaho, Kansas, Missouri, Montana, North Dakota, Oklahoma, South Dakota, Texas, Utah, Washington, West Virginia, Wisconsin, and the Commonwealth of Puerto Rico.

WHEN: Thursday, Jan. 31, 2013
1:00 – 1:30 p.m. EST

WHAT: USDA is announcing expansion of the mortgage refinancing pilot program it initiated last year in order to help more rural homeowners with current USDA-backed home loans reduce their monthly payments.

PRESS CONFERENCE PARTICIPANT ACCESS:

Audio Bridge Number: 888-455-0739
PASSCODE: USDA (Given verbally)
Trouble number – 202-720-8560

All callers using the above pass code will be placed in listen only mode. To join the Q&A portion of the meeting, these callers are instructed to press *1 on their touch tone phone.

Contact:
Weldon Freeman (202) 690-1384

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The United States Department of Agriculture (informally the Agriculture Department or USDA) is the United States federal executive department responsible for developing and executing U.S. federal government policy on farming, agriculture, and food. It aims to meet the needs of farmers and ranchers, promote agricultural trade and production, work to assure food safety, protect natural resources, foster rural communities and end hunger in the United States and abroad.

Contact:

Weldon Freeman
Phone: (202) 690-1384

U.S. Department of Agriculture
1400 Independence Ave., S.W.
Washington, DC 20250

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