The House of Representatives passed legislation today to extend loan commitment authority under the Rural Housing Service program which helps families to purchase homes in rural areas. The present commitment is expected to expire Friday, April 30, 2010.
The National Association of Realtors is urging the Senate to act quickly to approve House bill H.R. 5017, the Rural Housing Preservation and Stabilization Act of 2010. The Act would provide additional commitment authority under Section 502 for the remainder of the fiscal year, which ends September 30, 2010.
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