Homeowners in rural Nevada receive help with refinancing

    
 

Thursday, Mar 1 2012 6:31PM

The U.S. Department of Agriculture (USDA) recently announced it will award responsible homeowners in rural Nevada communities with an additional $100 to $150 each month for other personal family expenses.

The U.S. Department of Agriculture (USDA) recently announced it will award responsible homeowners in rural Nevada communities with an additional $100 to $150 each month for other personal family expenses.

The U.S. Department of Agriculture (USDA) recently announced it will award responsible homeowners in rural Nevada communities with an additional $100 to $150 each month for other personal family expenses.

The new rural refinance pilot program can help more than 1,000 homeowners who are struggling by lowering interest rates, regardless of the home's worth. Eligible homeowners must have a mortgage backed by USDA Rural Development and be current on their loan for at least 12 months. Qualified homeowners will be provided with financial help during tough economic times of high unemployment and decreased income in the state's rural areas.

Refinancing will allow homeowners to pay a lesser amount for their monthly mortgage payments and help households afford other housing expenses including needed maintenance and utility bills.

“Many Americans have had to see a reduction in their income, fewer hours, less overtime, a job becomes seasonal rather than full time, perhaps the second partner in the family has lost their job, but they have maintained that commitment to owning their own home," said USDA spokesperson Sarah Adler.

For further information, check out this source: Fox News Reno

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