On Friday, February 7, RHS received $11 million from the continuing resolution that expired that day. Those funds were distributed on an equal basis $213,000 per state, with additional funds available for patch outs. Each state gets about three loans. Of the total, $120,000 is for low income and $93,000 is for very low income.

RHS expects to receive $70 million no later than February 21. We will post the state-by-state allocation for those funds as soon as it is available.

Finally, it appears that all the outstanding issues have been resolved and Congress will pass the omnibus appropriations legislation before leaving for recess on February 14.

We expect the final number for section 502 direct loans to be very close to the FY 02 level.

National Rural Housing Coalition
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