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October 22, 2013

Vilsack on shutdown effects at USDA

The government shutdown has ended but the effects for those who use USDA services were felt by many. U.S. Ag Secretary Tom Vilsack says many seeking home loans may not have realized there are USDA home loans that were affected, “There were homeowners who basically lost economic opportunities, lost an opportunity to buy a home, or in some cases were in a situation where they were gonna to have to pay a little bit more for the loan because USDA wasn’t open. They had to go to a different place. So, now folks will have those opportunities for loans.”  Vilsack says business and farm loans were also affected, “Business that were looking for loan opportunities – that was shut down for a period of time. You know, just a whole host of things. There were many producers around the country who had checks – they may have sold their livestock, they may have sold grain but they had a loan but couldn’t cash the check. So, their interest continued to accrue.”  Read More

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