Administrator for USDA Rural Housing Programs Tammye Treviño will announce that USDA is expanding the USDA Single Family Refinancing Pilot Program to help more rural homeowners reduce their mortgage payments.
The program is being expanded to include 15 additional states and the Commonwealth of Puerto Rico.
Trevino will also discuss the success of the program so far in the 19 states currently authorized to make loan modifications under the pilot.
The pilot was announced in early 2012 by Secretary of Agriculture Tom Vilsack.
In addition to Puerto Rico, the states newly eligible for the program include: Alaska, Arkansas, Colorado, Idaho, Kansas, Missouri, Montana, North Dakota, Oklahoma, South Dakota, Texas, Utah, Washington, West Virginia, Wisconsin, and the Commonwealth of Puerto Rico.
The announcement will take place Thursday, Jan. 31, 2013 at noon central.
USDA is announcing expansion of the mortgage refinancing pilot program it initiated last year in order to help more rural homeowners with current USDA-backed home loans reduce their monthly payments.