In the last newsletter I discussed some of my concerns regarding USDA Rural Development’s use of income banding for low-income families even though it may also benefit very low-income households. My concern was that this may end up benefiting households who do not really need assistance and who, absent banding, would not be eligible borrowers. In spite of these concerns … there are real benefits to income banding for small households.
As we have reported, Rural Development (RD) has announced a pilot to use the “banded” method to determine low- and very low income status in 23 states and territories across the country. Arizona, California, New Mexico, Oregon, Utah and Washington are the six western states where this pilot will be tested for the next two years.
During the past couple of years, the National Rural Housing Coalition has asked its members and Rural Development to think of ways to increase the number of applicants who qualify as very low-income buyers.
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