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RCAC's Self-Help Builder News Summer 2011
By Stanley Keasling, RCAC chief executive officer
Thanks to the tireless efforts of the National Rural Self-Help Housing Association (NRSHHA), National Rural Housing Coalition (NRHC) and others, funding for both the self-help housing program and the 502 direct loan program was restored for the current federal fiscal year. Read more >>
This section contains the June interest rate, highlighted U.S. Department of Agriculture (USDA) Rural Development Administrative Notices, Unnumbered Letters and other resources and references. Read more >>
By Mary Fleming, RCAC financial management specialist
The Self-Help Home Ownership Opportunity Program (SHOP) is funded by the U.S. Department of Housing and Urban Development (HUD). SHOP funds are restrictively granted to four nonprofit agencies that administer the funds as partially or fully forgivable loans to nonprofit organizations throughout the United States. In the western region, SHOP loans are serviced primarily by Housing Assistance Council (HAC), which operates nationwide and Community Frameworks, which serves the Northwest, including Washington, Oregon, Idaho and Montana.
The purpose of SHOP is to provide funding to eligible nonprofit organizations for the purchase of home sites to develop or improve infrastructure for sweat equity home ownership projects for low- and very low-income individuals and families who otherwise would not become homeowners. Read more >>
Neighborhood Nonprofit Housing Corporation provides homeownership opportunities for low-income households
Since 2001, Neighborhood Nonprofit Housing Corporation (NNHC) has assisted 215 families achieve homeownership through the USDA Rural Development Mutual Self-Help Housing Program, and to date, none have gone into foreclosure.
Box Elder and Cache counties are rural communities noted for an agricultural economy, open spaces and a deep sense of place. The population in both counties has increased as manufacturing firms move in to take advantage of Utah’s strong work ethic and innovation. The rise in population has brought an increase in the need for affordable housing. Read more >>
SHARES Tidbits: Have you been disconnected?
By Nancy Jacobsen, RCAC rural development specialist
USDA Rural Development recently transferred the security of SHARES’ access. In the transfer process, some grantees lost their connections to SHARES.
The grantee is able to log into the first gateway for accessing SHARES, which is the eAuthentication log-in. At the next step, the log in to SHARES itself, they receive a message stating their access to SHARES has been “disconnected.” Read more >>