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The Section 502 Single-Family Housing Program

Does It Still Meet the Needs of Rural Borrowers?

By Susan A. Reif & Jennifer Ide

Since it was centralized in the wake of welfare reform, the Section 502 Single-Family Housing Program has not been fulfilling its intended purpose of providing financial assistance to farmers who cannot get credit elsewhere. While the program is still targeted at low-income rural borrowers, it is not specifically designed to meet their needs. Still, advocates can help Section 502 Program borrowers take advantage of the loan servicing to which they are entitled.

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