Kentucky Housing first mortgage loans guidelines for 2013

Kentucky Housing first mortgage loans guidelines for 2013.

via Kentucky Housing first mortgage loans guidelines for 2013.

Credit Requirements for A Kentucky Rural Housing RHS Mortgage Loan

2013 Credit Requirements for A Kentucky Rural Housing RHS Mortgage Loan  Kentucky First Time Home Buyers---Zero Down Loans Still Exist
REQUIREMENTS
  • · Credit report must match GUS Findings.
  • · Must not be older than 120 days on the date of closing for existing properties and 180 days for proposed and new construction.
  • · Must contain complete information provided by all three repositories.
  • · The credit report must show the following three required FICO scoring models for the report to be valid with Platinum Mortgage, Inc.:

1. Equifax Beacon 5.0

2. Transunion FICO Risk Score, Classic 04

3. Experian/Fair Isaac Risk Model V2.

  • · Must reflect a minimum of 1 score per borrower.

TRADELINE REQUIREMENTS:

GUS Approved: Each credit report must contain 2 acceptable tradelines with at least 12 month history and last active within the last 24 months (see below regarding acceptable tradelines).

Manual Underwrite: As determined acceptable by the underwriter.

CREDIT SCORE
  • · If more than one score is supplied by the same repository, the lesser of the scores will be used.
  • · Determining Qualifying Credit Score:

o Middle of 3

o Lower of 2

o If only one score is provided, that score is the qualifying credit score for that borrower.

Minimum credit score for:

  • · Manual Underwrite = 660
  • · GUS Approval = 660

LIABILITIES & CREDIT HISTORY

(INDEX)

H
OPEN CHARGE ACCOUNTS
ALIMONY, CHILD SUPPORT, OR SEPARATE MAINTENANCE
  • · Court-ordered payments should be documented by a copy of the court order.
  • · Borrower(s) must have an acceptable existing repayment plan for any arrearages and proof of 12 months on time payments, and/or be required to pay account in full prior to, or at closing.
  • · See Collections/Chargeoffs for additional requirements if there are arrearages.
CONTINGENT LIABILITIES
  • · If the borrower is a co-signer on an account paid by a 3rd party, the liability may only be excluded from the borrower debt ratios if evidence the primary obligor has been making the payments on time on the debt for a minimum of 12 months can be obtained.
  • · Court-ordered assignment of debt should be documented by a copy of the court order. Must have 12 months cancelled checks from the payer of the court ordered debt in order to exclude from the debt ratio.

PREVIOUS MORTGAGE:

  • · Section 1980.345(c)(1)(ii) requires all previous mortgage liabilities disposed of through a sale, trade, or transfer without a release of liability, to be included in the debt ratio calculation unless evidence can be obtained to confirm the remaining party has made payments over the last 12 months.
  • · In divorce settlements when one person retains ownership of a residence as a result of the proceedings, it does not imply that the person relinquishing ownership is automatically released of the financial liability associated with an existing mortgage debt. The divorce decree along with a release of liability from the mortgage creditor must be presented as evidence that an applicant is no longer legally responsible for the mortgage payment. If no release of liability is granted by the creditor then the applicant remains legally obligated for the debt. Quit claim deeds do not remove liability for mortgage debts.
DEFERRED INSTALLMENT DEBT May not be omitted from debt ratio. If the credit report does not reflect a monthly payment due at the end of the deferment period, the lender may request a copy of the applicant’s payment letter, or utilize the industry standard of estimating student loan payments as 1% of the loan balance.
NON-REIMBURSED EMPLOYEE EXPENSES If the borrower claims any non-reimbursed employee expenses (IRS Form 2106 or 1040 Schedule A), the borrowers monthly income should be reduced by the annualized monthly average.
BUSINESS DEBT IN BORROWER’S NAME When the account in question does not have a history of delinquency, the debt may be excluded with satisfactory evidence the obligation was paid out of company funds (such as 12 months cancelled company checks). If the account in question has a history of delinquency, the full debt obligation must be included in the borrower’s debt ratio.
FINANCED PROPERTIES Additional financed properties are generally not permitted as borrower may not own any other suitable housing at time of closing.
DEBTS WITH <6 REMAINING PAYMENTS The total debt ratio should include revolving debt regardless of when the debt will be retired. Installment loans will only be considered if the debt will be retired in more than six months. However, if the monthly payment on the debt is substantial, the payment will also be included in long term debt. The GUS system will automatically exclude debt that is eligible to be excluded. If not excluded by GUS the debt must be included in the debt ratio.
“PAYING DOWN” ACCOUNTS Not permitted. Settlement offers will not be considered as proof of balance
SETTLEMENT OFFERS Are acceptable on accounts that will be paid in full at closing as long as the offer is in writing from the creditor reporting on the credit report.
PAST DUE ACCOUNTS (NOT A COLLECTION OR CHARGE OFF) Recent derogatory credit >1×30 within the previous 12 months is not permitted unless approved by GUS. All past due accounts must be current at time of closing.
COLLECTIONS/ CHARGE OFFS
  • · No accounts converted to Collection/Charge off in previous 12 months allowed, unless approved by GUS.

GUS Approved:

  • · Medical Collections/Charge offs are not required to be paid.
  • · Other Collections/Charge offs, if >24 months, not required to be paid, otherwise accounts must be paid in full prior to, or at, closing.

Manual Underwrite:

  • · Medical Collections/Charge offs are not required to be paid.
  • · Other Collections/Charge offs must be paid in full prior to, or at closing.

Any unpaid Collections/Charge offs will require a satisfactory letter of explanation from the borrower.

OUTSTANDING FEDERALLY INSURED OR GUARANTEED DEBT Borrower(s) must have an acceptable existing repayment plan (minimum of 12 months), and/or be required to pay account in full prior to, or at closing. Borrower must also be cleared through CAIVRS.
JUDGMENTS/LIENS
  • · Must be paid at, or prior to, closing.
  • · Borrower(s) may not have any new Judgments/Liens within the previous 12 months, unless approved by GUS.
BANKRUPTCY (ALL) 3 years seasoning required from Discharge or Dismissal date.
FORECLOSURE 3 years seasoning required.
DEED-IN-LIEU OF FORECLOSURE 3 years seasoning required.
SHORT SALES 3 years seasoning required.
COMPENSATING FACTORS Some compensating factors include:

  • · Conservative use of credit
  • · Minimal increase in borrower’s housing expense
  • · Substantial cash reserves after closing
  • · Credit score >660
  • · Low total debt ratio (does not compensate for high housing ratio)
MULTIPLE RISK LAYERING Multiple risk layering is not allowed on manually underwritten loans:

  • · Payment Shock (>100%)
  • · Ratio Waiver
  • · Credit Waiver
  • · Credit Score <660
  • · Short Duration of Employment (less than 12 months employment with current employer)
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

applynow

Bullitt County KY USDA and Rural Housing Mortgages

Image: The current area eligible in Bullitt County Kentucky for USDA and RHS loans consist of the following areas:

Mount Washington KY, 40047

Shepherdsville KY 40165

KY Bullitt County Ineligible Area

 

Bullitt County Ineligible Areas: The areas of Hillview, Brooks, Zoneton, and Hebron, commonly known as North Bullitt Area, are ineligible for Rural Development financing. The Line begins on the West at the Jefferson / Bullitt County line at Holsclaw Hill Road and follows Holsclaw Hill Road. South to Brooks Hill Road. The line continues South-Southeast to intersect with an East West line drawn from Bells Mill Road. At the intersection of Bells Mill Road. and Floyds Fork the line follows Floyds Fork East and then Northeast where it intersects the Bullitt County line .5 mile East of Floyds Fork.

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com
ImageKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

Kentucky USDA and Rural Housing Underwriting Update for November 2012

Kentucky USDA and Rural Housing Underwriting Update for November 2012

This website is not an Government Agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. 

1)  Kentucky USDA loans and rural housing underwriting  is tightening up!  You are going to see us asking for more to make sure we have it to respond to USDA when they ask for it.  We don’t want to be caught shorthanded on these deals and be stuck waiting to get them closed (neither do you!) so to be reactive to the changes with USDA, you will find that we are conditioning for more than we used to.  To help us be on the ball with your USDA loans, be sure to include the following:

1)  30 days most recent paystubs showing a YTD amount

2)  VOE’s if the borrower is NOT employed in the same position for more than 2 years or the borrower has OT, Bonus or commission income.  We will recommend Written VOE’s   for the purpose of showing the borrower is in the same line of work!

3)  Assets – if your 1003 shows bank information and asset information then you must provide the most recent 2 statements to prove this information

4)  Collections & open judgments must show on your liabilities.  Please provide an LOX for all Derogatory credit  this LOX should show that the circumstances were temporary in  nature, beyond the applicant’s control and resolved to the best of their ability

5)  VOR‘s are required for all USDA loans.  USDA has been consistently requesting this information in the past 30 days.  For files above 640, a VOR will suffice.  For files under 640,     we will require 12 months cancelled checks.  If a VOR is not available due to the borrower living with family,  an LOX will be needed

6)  Paystubs for all income in the household regardless if they are on the loan or not. Must be most recent and 30 days worth to help determine actual income

7)  Garnishments or child support shown and if paying it we will require the court order. If receiving it, we need a 12 month history of receipt and court order

8)  W-2’s for the past 2 years for ALL jobs

9)  Tax returns if self employed or unreimbursed expenses are shown

10)  YTD P&L if self employed prepared by tax preparer and signed by borrower.

11)  1980-21 signed by borrowers

12)  Fully executed purchase contract

Remember – we cannot send a file to RD without an appraisal!!!  The appraisal must state that the property meets HUD Handbooks 4150.2 and 4905.1.

2)  Turn times for USDA in several states are extreme.  We understand your frustration with the delays and want to express to you that we are watching diligently for return commitments to push your files to closing.  If you could review your USDA loans with us and insure that all conditions are met….except for the CC…we can expedite these files ASAP when the commitment comes in.  If your file has been with us for over 30 days, please update the paystubs as ours will have expired!!!

Thank you for your attention and please let me know if you need me!

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

Kentucky Rural HousingRHS Loans

Kentucky Rural Housing  RHS Loans 

RHS

  • Guaranteed by Rural Housing Services (RHS).
  • Home must be located in a rural area as defined by RHS.
  • No down payment if the property appraises for the sale price or greater.
  • Minimum credit score of 640.

Guidelines

  • Must be a first time home buyer, unless property is located in a targeted county.
  • Interest rate fixed at 2.875 percent.
  • Gross Annual Household Income guidelines:
    • $35,000 for all household sizes.
  • All household occupants (18 years and older) with income must be included on loan and be credit ready.
  • Must use all but two months’ reserves of borrower’s own funds.
  • Existing or new construction property with a purchase price limit of $115,000
  • Zero Point Rate
  • Only FHA, VA and RHS – 640 credit score and AUS Approval
  • 60-Day Lock
  • Neighborhood, Regular, and HOME DAP loan programs available.

Applying for a Kentucky Housing loan is easy. Just contact one of our approved lenders near you and ask for a Kentucky Housing loan.

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

The Best Kind of Loan for Your Credit Score

The Best Kind of Loan for Your Credit Score.

via The Best Kind of Loan for Your Credit Score.

DEFERRED STUDENT LOANS AND DEBT RATIO CALCULATIONS Kentucky Rural Housing Loans and USDA Loans in KY

DEFERRED STUDENT LOANS AND DEBT RATIO CALCULATIONS  for Kentucky Rural Housing Loans and USDA Loans in KY

 

RHS Student Loan DTIs

 

Due to the variable nature of some student loan plans, RHS is standardizing the process of including them in the debt ratio. All student loans will now require documentation verifying the current payment due.

 

For student loans which are Conventional, Fixed Payment, and/or Deferred:

  • Account statements will be reviewed and fixed monthly payment will be used with no adjustments.
  • Deferred student loans not in repayment will use an estimated payment of 1% of the loan balance unless a documented fixed payment from the loan servicer can be provided.

 

For student loans with Income Based Repayment plans:

  • If the current payment is greater than $100, that payment can be used.
  • If the current payment is less than $100 and total loan balance is greater than $10,000, a minimum $100 payment must be included in the debt ratio.
  • If the current payment is less than $100 and total loan balance is less than $10,000, then the current payment may be used

 

Please note that documentation of an Income Based Repayment agreement must be provided. Payments of $0 are not eligible to be used in the debt ratio. Verifications are only valid for 120 days, 180 days for new constructions

 

DEFERRED STUDENT LOANS AND DEBT RATIO CALCULATIONS

. A 100% 30 year fixed interest rate loan with flexible credit and qualifying ratios along with other benefits, will open the door to a new market and new growth possibilities.

We look forward to a long and productive relationship this affordable housing product to the people of Kentucky and to a strong partnership in the Kentucky GRH Program.

For the USDA Rural Development Single Family Housing Guaranteed Loan Program, deferred student loans should be included in the debt ratio calculations for Guaranteed Loans regardless of the deferment period.

Rural Development RD Instruction 1980-D, section 1980.345(c)(1) states:

“Long term obligations include those obligations . . . with a remaining repayment period of more than 6 months and other shorter term debts that are considered to have a significant impact on repayment ability.”

Deferred student loans are long term obligations with remaining repayment periods of more than 6 months, and they must be included as part of the

applicant‟s recurring monthly debt obligations. If the credit report does not reflect a monthly payment due at the end of the deferment period, the lender may request a copy of the applicant‟s payment letter, or utilize the industry standard of estimating student loan payments as 1% of the loan balance. Therefore a deferred student loan balance of $12,000 should have a corresponding monthly payment of $120 if no estimated payment is verified by the lender.

This guidance applies to all manually

DEFERRED STUDENT LOANS AND DEBT RATIO CALCULATIONS Kentucky Rural Housing Loans and USDA Loans in KY

Rural Housing announced today that the Kentucky eligible property map will NOT be changing

Kentucky USDA and Rural Development Eligible Areas in Kentucky

January 2014 USDA RURAL HOUSING UPDATE 

eligible Kentucky Map for Kentucky USDA Mortgage Loans for Rural Housing Mortgages in Kentucky
eligible Kentucky Map for Kentucky USDA Mortgage Loans for Rural Housing Mortgages in Kentucky

The new 2014 Farm Bill has now passed the House and the Senate in Congress. This is a big deal for home buyers in the Louisville, Kentucky area and surrounding areas in Central Kentucky. This bill grandfathered the existing communities in that qualify for Rural Housing USDA Loans 100% financing until 2020.

This means a qualified buyer can purchase a home in Shepherdsville, Mt Washington, Shelbyville, Elizabethtown, Bardstown, Nicholasville, Georgetown, Kentucky cities  with Zero Down until at least 2020. Great news Indeed!


Call or email below to qualify for free for your next USDA Home loan in Kentucky.

2014 Kentucky USDA Rural Housing eligible areas
2014 Kentucky USDA Rural Housing eligible areas

Joel Lobb
Senior  Loan Officer
(NMLS#57916)
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
 Fax:     (502) 327-9119
 Company ID #1364 | MB73346

October 1, 2012 over 900 communities across the USA will lose their eligibility for 100% USDA Rural Housing loans including cities in Kentucky that where once eligible. If you know of buyers looking in these communities they need to act now. They should probably be under contract by end of August to be safe. There is no indication this expiration will be delayed. See the cities below that will be no longer eligible come 10/1/2012 for a Rural Housing USDA Loan in Kentucky 

No Longer Eligible for Kentucky RHS USDA Loans come 10/1/2012 below:

 Bardstown,  KY, Nelson County  

 Burlington, KY,   Boone County 

  Elizabethtown, KY,   Hardin County 

 Georgetown, KY,  Scott County

  Independence, KY,   Kenton  County 

 Nicholasville , KY, Jessamine County

 Shelbyville, KY , Shelby County

 Shepherdsville. KY , Bullitt County 

 Bardstown KY1

Table 1. Metropolitan Kentucky USDA Eligible Areas Potentially Impacted by Population Change

KY Burlington 8.84 15,926 10,779
KY Elizabethtown 25.36 28,531 22,542
KY Georgetown 15.84 29,098 18,080
KY Independence 17.44 24,757 14,982
KY Nicholasville 13.01 28,015 19,680
KY Shelbyville 8.06 14,045 10,085
KY Shepherdsville 9.67 11,222 8,334

To see an eligible Kentucky Map for Kentucky USDA Mortgage Loans for Rural Housing Mortgages in Kentucky  Please clink the following link below:

http://kentuckyusdaloan.com/

Breaking News!! USDA Announcement.

All current eligible areas of Kentucky for Rural Development loans will remain the same until March 27, 2013 unless directed otherwise.

SFH Origination News

From the National Office in Washington DCSingle Family Housing Guaranteed Loan Program

September 26, 2012

Implementation of 2010 Census Data

No changes to rural designated areas based on the 2010 Census Data will occur until March 27, 2013 unless directed otherwise.

For additional information on this subject, attached is the Administrative Notice, AN 4679 with additional information. Below is an exert directly from the AN

   SFH Origination News
     
 
Single Family Housing Guaranteed Loan Program

USDA RD Approved Map Locations 2013

Rural Housing announced today that the Kentucky eligible property map will NOT be changing until March 2013.  Many were reporting the map change that determines what homes would be eligible was going to happen in October 2012, this is not the case.   Please bookmark the blog to stay informed of the latest USDA mortgage program changes
For the USDA approved map, please click here
Call us today at 502-905-3708 or visit Free Kentucky Rural Development and USDA Loan Approvals to learn more about 100% Rural Housing loans and application requirements

Fill out my form!

Kentucky USDA and Rural Development Homes for Sales Foreclosures

  KENTUCKY 31 Properties
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  ALLEN  COUNTY
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 689 Richard Jones Rd 3/1  $30,275.00
 Scottsville KY ,KY  42164
 View Property Details  Foreclosure Sale
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  BATH  COUNTY
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 1696 Vanlandingham Rd 3/2  $44,170.00
 Salt Lick KY,KY  40371
 View Property Details  Foreclosure Sale
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  BRECKINRIDGE  COUNTY
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 314 East 6th St. 3/1  $53,485.00
 Hardinsburg, KY ,KY  40143
 View Property Details  Foreclosure Sale
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  BULLITT  COUNTY
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 155 North St 3/1  $42,365.00
 Shepherdsville KY,KY  40165
 View Property Details  Foreclosure Sale
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  CLARK  COUNTY
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 110 Colonial Park Dr 3/1  $46,115.00
 Winchester KY ,KY  40391
 View Property Details  Foreclosure Sale
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  DAVIESS  COUNTY
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 5022 Sturbridge Place 3/2  $41,870.00
 Owensboro KY,KY  42303
 View Property Details  Foreclosure Sale
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  ESTILL  COUNTY
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 205 Evergreen Rd 3/1.5  $70,400.00
 Irvine,KY  40336
 View Property Details  Foreclosure Sale
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  GALLATIN  COUNTY
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 2145 Ky Hwy 16 3/1  $16,080.00
 Glencoe KY ,KY  41046
 View Property Details  Foreclosure Sale
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  GARRARD  COUNTY
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 2067 Pollys Bend 3/2  $12,060.00
 Lancaster,KY  40444
 View Property Details  Foreclosure Sale
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  GRAVES  COUNTY
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 1011 Pine Lane 3/1  $36,080.00
 Mayfield,KY  42066
 View Property Details  Foreclosure Sale
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 1643 Alexander Loop 3/2  $26,800.00
 Mayfield KY ,KY  42066
 View Property Details  Foreclosure Sale
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 1111 South 12th Stree 3/1.5  $16,750.00
 Mayfield KY,KY  42066
 View Property Details  Foreclosure Sale
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  GRAYSON  COUNTY
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 142 Noah Lane 3/2  $48,930.00
 Leitchfield,KY  42754
 View Property Details  Foreclosure Sale
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  HARDIN  COUNTY
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 200 College Street 2/1  $55,210.00
 Elizabethtown,KY  42701
 View Property Details  Foreclosure Sale
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  HOPKINS  COUNTY
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 556 Richmond Dr. 3/1.5  $10,000.00
 Madisonville,KY  42431
 View Property Details  Foreclosure Sale
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 1650 Wells Road 3/2  $21,440.00
 Nortonville,KY  42442
 View Property Details  Foreclosure Sale
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  JESSAMINE  COUNTY
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 604 Edgewood Dr 3/1  $40,495.00
 Nicholasville KY ,KY  40356
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  JOHNSON  COUNTY
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 4888 KY RT 1559 3/1  $11,390.00
 Sitka, KY,KY  41255
 View Property Details  Foreclosure Sale
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  KENTON  COUNTY
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 466 Courtney Road 3/1  $34,030.00
 Crittenden,KY  41030
 View Property Details  Foreclosure Sale
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 10474 Calvary Rd. 3/2  $38,860.00
 Independence,KY  41051
 View Property Details  Foreclosure Sale
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  KNOX  COUNTY
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 2718 South Hwy 233 3/2  $13,400.00
 Gray,KY  40734
 View Property Details  Foreclosure Sale
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  LYON  COUNTY
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 414 Osage Court 3/1  $46,265.00
 Kuttawa,KY  42055
 View Property Details  Foreclosure Sale
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  MARSHALL  COUNTY
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 1006 Fox Ridge Court 3/1  $24,980.00
 Benton KY,KY  42025
 View Property Details  Foreclosure Sale
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  MCCRACKEN  COUNTY
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 6125 Springbrook 3/2  $77,480.00
 Paducah,KY  42001
 View Property Details  Foreclosure Sale
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  MONTGOMERY  COUNTY
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 148 Southdale Drive 3/1  $41,355.00
 Mount Sterling,KY  40353
 View Property Details  Foreclosure Sale
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 325 Legend Dr 3/2  $42,430.00
 Mt. Sterling,KY  40353
 View Property Details  Foreclosure Sale
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  MORGAN  COUNTY
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 11 Virginia Lane 3/1  $63,960.00
 West Liberty,KY  41472
 View Property Details  Foreclosure Sale
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  OHIO  COUNTY
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 4204 Midway Rd. 3/1.5  $26,130.00
 Beaver Dam,KY  42320
 View Property Details  Foreclosure Sale
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  TODD  COUNTY
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 222 Winding Oaks 3/2  $54,380.00
 Elkton KY,KY  42220
 View Property Details  Foreclosure Sale
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  TRIGG  COUNTY
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 75 English Dr 3/2  $40,015.00
 Cadiz KY,KY  42211
 View Property Details  Foreclosure Sale
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  WHITLEY  COUNTY
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 1355 New Zion Rd 3/2  $26,800.00
 Williamsburg KY,KY  40769
 View Property Details  Foreclosure Sale
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
jlobb@keyfinllc.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*

  KENTUCKY 5 Properties
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  CARTER  COUNTY
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 610 Holcomb St 2/3  $33,840.00
 Grayson,KY  41143
 View Property Details  Real Estate Owned
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  GREENUP  COUNTY
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 400 7th Ave 3/1  $40,000.00
 Worthington,KY  40351
 View Property Details  Real Estate Owned
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  MEADE  COUNTY
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 140 Wheatley Ave. 3/1  $71,200.00
 Ekron,KY  40117
 View Property Details  Real Estate Owned
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  MORGAN  COUNTY
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 1785 Hwy 882 3/1  $40,720.00
 Ezel,KY  41425
 View Property Details  Real Estate Owned
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 14699 Hwy 460 W 3/1  $50,400.00
 Ezel,KY  41425
 View Property Details  Real Estate Owned

Here are the cities in Kentucky that will no longer be eligible for RHS or USDA Rural Development mortgage loans effective 10/1/2012:

Here are the cities in Kentucky that will no longer be eligible for RHS or USDA Rural Development mortgage loans:

More Info on Kentucky RHS – Support Rural Definition Amendment for Kentucky  USDA Programs – Please read carefully and ACT NOW!!!
On July 31, 2012 Congress passed a 6-month Continuing Resolution (CR) to fund the government through March 31, 2013, avoiding a messy fight over the FY13 Appropriatios bills.  At this time, the Continuing Resolution (CR) is our best opportunity to enact a solution to USDA’s “rural” definition issue before the October 1, 2012 deadline for RHS.
PLEASE CALL OR EMAIL YOUR REPRESENTATIVES TODAY AND EVERY DAY and ask them to sign on to Rep. Fortenberry’s letter to Appropriations Chairman Hal Rogers, urging the Committee to address the “rural” definition issue in the Continuing Resolution (CR).
The CR is our best opportunity to address these issues before the October 1st deadline.  If the House does not enact a solution to the “rural” definition issue, USDA will move forward with the below changes on October 1st.  The Senate already has a provision in their appropriations bill.  Now, we need the House to act. When you call or email your Representative make sure they know that without this CR, the October 1st changes will serve a massive blow to affordable housing in rural communities.
Please, don’t think that someone else will make the calls or send the emails.  It is up to YOU! Also contact all the Realtors and Builders that you know because it affects them too!  Ask them to call their Representatives as well. 

Here are the cities in Kentucky that will no longer be eligible for RHS mortgage loans:

Bardstown, city 

Burlington, city

Elizabethtown, city

Gerogetown, city

Independence, city

Nicholasville, city

Shelbyville, city

Shepherdsville, city

IMPPORTANT – READ CAREFULLY!
Representative Hal Rogers is the Chairman of the Agriculture Appropriations Committee.  The Farm Bill is currently in the House of Representatives Agriculture Appropriations Committee for review.  Hal Rogers is in favor of the changes we are requesting.  Even if he is not your Representative contact him anyway so that he can provide more fuel to the committee as to the importance of this bill – he’s on our side. CLICK HERE TO CONTACT HAL ROGERS.
Click here if you would like tips on how to communicate with your legislato

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