Albuquerque, Jun 12, 2012 -- Earlier today, USDA Rural Development State Director Terry Brunner announced his agency can provide financial support to those families and communities that have seen damage by the Little Bear fire near Ruidoso. Individual homeowners may qualify for financial assistance to refurbish rebuild or buy a new home. Also, Rural Development can provide financial help to rebuild community buildings and community water and wastewater systems affected by the fire.
Brunner said, “As we announced last week USDA Rural Development wants to help those affected by the fire to be aware that our existing financial programs may be able to help families with financial assistance to repair, rebuild or buy a home. Also, we can provide other assistance to rebuild community buildings and infrastructure if need be.” Brunner added, “Our staff is ready to help and we encourage residents to call us to see if they are eligible for assistance.”
The housing programs administered by USDA Rural Development include a direct home loan program that provides moderate to low income residents with a direct loan from the USDA to build, refurbish or buy a home. . The agency administers the 504 home loan and grant program which is available to low-income rural residents who own and occupy a home in need of repairs. Grants of up to $7,500 are available to low income homeowners who are 62 years old or older The funds can be used to improve or modernize a home, or to remove health and safety hazards. USDA also provides a loan at a 1% interest rate that may be repaid over a 20-year period for low income homeowners.
For those applying for the 504 rehabilitation funds are asked to bring the following they should be ready to provide the following information:
• Warranty deed
• Verification of Income
• Cost estimates
• Proof of age for grant (62 years or older)
• List of debts presently being paid and account numbers and addresses of accounts
• Checking and savings account numbers
• Photo Id
• Income tax records for most recently filed income tax
• Property tax information
USDA Rural Development also provides funding to build or rebuild water and wastewater systems though it’s Rural Utilities Service (RUS) Water and Environmental Program (WEP). Rural Development also administers the Community Facilities program which provides financial support to build or rebuild community buildings such as senior centers, fire stations and other community buildings. The same program can also pay for the purchase of fire trucks, police cars and other vehicles and equipment needed by a community or county.
If anyone would like more information on these programs they should call USDA Rural Development’s Roswell office at: 575-622-8745 Extension 4 during business hours.
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development fosters growth in homeownership, finances business development, and supports the creation of critical community and technology infrastructure. Further information on rural programs is available at any local USDA Rural Development office or by visiting USDA Rural Development’s web site at http://www.rurdev.usda.gov