Announcements
Jennifer Emerling / There Is More Work To Be Done
Jennifer Emerling / There Is More Work To Be Done
Reg Changes Section 502 G
USDA Rural Development Changes Regs for Rental Preservation and Section 502 Guaranteed
Updated November 5, 2008: Two new USDA RD regulations were published in the Federal Register on November 4, 2008.
Multifamily housing: Changes and corrections in the regulation governing preservation for the Section 515 rental housing and 514/516 farm labor housing programs are issued as a final rule, effective immediately.
Single-family housing: RD simplifies the income categories used to qualify borrowers for the Section 502 guaranteed loan program. Rather than using an eight-tiered system with separate income levels for families based on number of family members up to eight, RD will use two tiers, one for families with one to four people and a second for families with five to eight members. This is a “direct final rule” and will become effective without change unless RD receives adverse written comments by January 4, 2009.
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Posted: November 3, 2008
Updated: November 5, 2008