loans

Economy
12:35 pm
Tue October 15, 2013

USDA Loan Interruption Hits Local Housing Market

The United States Department of Agriculture provides home loans to low- and middle-income buyers in rural communities.
Credit image courtesy of usda.gov

The federal government shutdown is causing a slowdown in home sales in rural Triad communities. The U.S. Department of Agriculture, which is probably best-known for assisting farmers, is also a major provider of loans for low-  and middle-income homebuyers. Those loans are targeted for rural communities, but even places in urban counties, including Forsyth and Guilford, have neighborhoods that are eligible for the loans. The problem is that USDA employees have been determined to be “non-essential” government workers, so there is no one at the agency to process the loans.

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