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Rahall Announces Make $90M for Housing Assistance 

4/1/2009 

WASHINGTON, D.C. – U.S. Representative Nick J. Rahall (D-WV), today announced that $90,145,920 will be made available from the American Recovery and Reinvestment Act (ARRA) for the U.S. Department of Agriculture’s (USDA) Single Family Housing Guaranteed Loan Program in West Virginia.

 

"Homeownership is something worth striving for here in southern West Virginia," said Rahall. "This loan program will allow families in our District to pursue safe, affordable, well-built homes. These resources will go directly into our rural communities, creating more jobs and making it possible for thousands more families in some of our hardest hit areas to reach that goal of owning a good, safe home."

 

Funding from the ARRA will initially provide 15,000 rural families with $1.76 billion in loan guarantees for homeownership financing, creating or saving approximately 7,500 jobs nationwide. It is estimated that 42,500 jobs will be created or saved through the use of ARRA funding for rural housing.

 

“It’s important to recognize that the hard-earned money of tax-paying West Virginians is flowing back into our hills and hollows. With these funds, the dream of homeownership will become a reality for many,” said Rahall.

Rachael Berkey