|Apr 15, 2010 --
A failed home inspection of a septic system made it possible for Cindy Jimenez and her 6 children, 4 of which are adopted, to stay in their Blairstown, New Jersey home.
Fortunately for Ms. Jimenez, a potential sale fell through due to her need of a new septic system. Cindy had tried to secure a loan with a guaranteed lender and had no success. He suggested she could be a potential candidate for Rural Development assistance and referred her to the Clinton office.
Rural Development’s Area Specialist M. Joan Hartpence learned of her needs and assisted Ms. Jimenez with developing her application. She followed up repeatedly to secure funding for this low income applicant. Rural Development through our 502 Direct Housing Program was able to approve a loan to refinance the property, make other needed repairs and replace the septic system.
With interest subsidies at a fixed rate over a term of 33 years, the family is saving more than $1,000 per month which certainly is evidence that Rural Development’s program has made the monthly mortgage payments affordable. As a result of Rural Development’s assistance, the family is able to stay in their home and apply the mortgage payment savings to needed expenses for the family of 7.
Its apparent in the picture below, the smiles are back on the Jimenez’s family.