I do 2-3 USDA loans per month and that funding is at risk if an agreement is not worked out by 12/31. That is 2-3 families that I won’t be able to assist, most of the time a first time home buyer. This loan required no down payment and has a very small default rate, just like VA loans.
I am hopeful that an agreement is worked out prior to year end, but I don’t see a big deal, I see a mini deal and a story about a bigger deal coming later in 2013. Which means continued adding to our National debt.
Check out this article!
Rural Housing Has Big Exposure To Falling Off the Fiscal Cliff
By: Mark Fogarty
