Sign Up For Novogradac Industry Alert Emails

Rural Housing Service Published a Final Rule Amending its Regulations for the Guaranteed Rural Rental Housing Program

Thursday, January 20, 2005 - 8:00AM

The Rural Housing Service (RHS) this week published a final rule amending its regulations for the Guaranteed Rural Rental Housing Program (GRRHP). Under the GRRHP, RHS guarantees loans for the development of housing and related facilities for low- or moderate-income families in rural areas. The amendments allow RHS, in the case of a default, to buy back guaranteed loans from investors, lower the minimum level of rehabilitation work when guaranteed loans are used for acquisition and rehabilitation, and clarify certain matters involving Ginnie Mae. RHS says the goal of these regulatory changes is to increase participation by the secondary mortgage market in the GRRHP. 

Learn more about Novogradac's expertise and many services