Texas Loans – Ballinger TX http://ballingertx.org/ Sat, 08 Jan 2022 10:35:05 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://ballingertx.org/wp-content/uploads/2021/06/icon-150x150.png Texas Loans – Ballinger TX http://ballingertx.org/ 32 32 Town of Hearne places buyout order to pay homeowners who install solar panels https://ballingertx.org/town-of-hearne-places-buyout-order-to-pay-homeowners-who-install-solar-panels/ Sat, 08 Jan 2022 04:31:42 +0000 https://ballingertx.org/town-of-hearne-places-buyout-order-to-pay-homeowners-who-install-solar-panels/ HEARNE, Texas – Hearne City Council on Tuesday passed a solar power buyback ordinance, which states that Hearne residents who install solar panels on their homes can receive $ 0.048 per kilowatt hour for any excess energy storage . City officials told KRHD that this electricity purchased by Hearne from private citizens will then be […]]]>

HEARNE, Texas – Hearne City Council on Tuesday passed a solar power buyback ordinance, which states that Hearne residents who install solar panels on their homes can receive $ 0.048 per kilowatt hour for any excess energy storage .

City officials told KRHD that this electricity purchased by Hearne from private citizens will then be used by the city to meet the energy needs of their own municipal utility customers.

“The consumer must know which contract he is signing,” advised Ed Hirs, an energy researcher at the University of Houston. “Who owns the panels … and is the electricity on your side of the meter?” [where] can you use it or does it go out into the network and you have to send it back? “

Hirs, an energy expert, suggested that while solar panel installations can be beneficial for homeowners, it is essential that the buyer be wary of and carefully read contracts to see who actually owns the panels and electricity. .

He noted that solar panels, batteries and installation cost thousands of dollars. In addition, this cost could take many years to pay off or recover. But, the panels could theoretically reduce or eliminate a homeowner’s municipal electricity bill.

“If you generate enough electricity to be self-sufficient, then you’re fine,” he said. “Most people will continue to use the network because there are times, of course, when the sun is not shining. “

ADC’s Megan Tucker and Ryan Kearnes in Bryan are running solar installations across Texas and hope to enter the Hearne market with the new ordinance. Tucker herself is a resident of Hearne and said there was no choice for her but municipal electricity and the state power grid.

She is happy to see the prescription arrive.

“It gives a lot of opportunity to people who were in the dark during the winter storm, and only gives opportunities in general,” Tucker said. “Because Hearne has kind of been underdeveloped, but it’s getting to be a bigger city day by day.”

Tucker and Kearnes pointed out that even though solar panels cost thousands of dollars, homeowner loans with credit scores as low as 600 are available.

“Energy prices have doubled since 2003, so this is something where you can lock in your bill for the next 30 or 40 years,” Kearnes commented.

Additionally, Kearnes explained that with adequate battery storage, solar customers can have their own resources in the event of a power grid failure.


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There is a target on the back of your community bank https://ballingertx.org/there-is-a-target-on-the-back-of-your-community-bank/ Thu, 06 Jan 2022 07:31:15 +0000 https://ballingertx.org/there-is-a-target-on-the-back-of-your-community-bank/ As is the case with so many good ideas, rules to implement an obscure provision of a law passed in 2010 – the Dodd-Frank law, intended to curb risky behavior by financial institutions considered too big to go bankrupt – are now under consideration by the Consumer Financial Protection Bureau. As a more than 41 […]]]>

As is the case with so many good ideas, rules to implement an obscure provision of a law passed in 2010 – the Dodd-Frank law, intended to curb risky behavior by financial institutions considered too big to go bankrupt – are now under consideration by the Consumer Financial Protection Bureau. As a more than 41 year veteran of the community banking industry who has unexpectedly landed in academia, I am troubled by Section 1071 of the DFA on many levels.

Unfortunately, community banks were the collateral damage of this massive bill, and their cost of complying with an ever-increasing level of federal regulation has increased dramatically. Although they neither participated in nor benefited from the inappropriate behavior that led to the 2008 financial crisis, these local banks were caught in a vice that drastically changed their business model and ability to serve customers.

Unfortunately, many of these small banks have chosen to throw in the towel. According to public data from the Federal Deposit Insurance Corporation, there were 7,839 banks nationwide at the end of June 2010, just before Dodd-Frank became the law of the land. As of September 30, that number was 4,923, an alarming drop of 37.2%. The industry continues to consolidate as the big ones get bigger and the little ones disappear. Communities nationwide continue to feel the effects of the loss of locally owned community banks.

Why is this important to you, your community and the economic vitality of this country? A team of Texas Tech University researchers Bailey Allen, Mike Mauldin and Drew Winters recently published “A commentary on the implementation of section 1071 of the Dodd Frank Act, Detailing the disproportionate commitment of community banks to the small business lending space. The study details the concentration of loans to small businesses and agriculture in community banks, the decline of this type of lending as the size of banks increases and, most importantly, the disparate impact on small banks to respond. the proposed reporting requirements.

Perhaps the most telling is the paycheck protection program data. An excerpt from the above study states:

“Small Business Administration (SBA) data on this critical lifeline shows the importance of small banks in meeting the borrowing needs of small businesses and, by extrapolation, would indicate that the Section 1071 reporting burden would fall disproportionately. The SBA recently reflected in its PPP approvals through May 31, 2021, that $ 799.83 billion has been made in PPP loans. Banks under $ 10 billion accounted for $ 335.28 billion or 41.9% of PPP loans.

This is important when you consider that FDIC data indicates that banks of $ 10 billion and under account for about 12% of the industry’s assets. Regardless of how we look at community bank loans, it is quite clear that community banks play a disproportionate role in the small business lending space and make a disproportionate percentage of these loans across various categories.

Banks are scrutinized in all aspects of their operations, but most importantly the consumer lending and mortgage business, which is carefully analyzed to determine evidence of any suspicion of discriminatory treatment. These are cookie-cutter loans; that is, they can be easily analyzed to determine any potential for favoritism or unfair treatment.

Small business loans are the opposite, and each is unique and requires careful, time-consuming, and not always quantified, analysis to determine potential for success. A beauty salon is not a machine shop, is not a lawn service, is not a dentist’s office. This is why the big banks are turning away from small business loans.

Many of these small business loans are relationship driven and require knowledge and experience that is used daily by community and rural bankers to provide the necessary capital to small businesses in their communities. Large efficiency-driven banks tend to give cookie-cutter loans to consumers through a stereotypical approach, or they focus on multi-million dollar demands that generate more revenue for roughly the same. amount of work.

Small businesses are the primary creators of new jobs in the United States and primarily drive economic growth and the vitality of communities across the country. Community banks are the lifeblood of small businesses. We will all be affected if either of these areas is diminished or extinguished.

Mike Mauldin is director of the Excellence in Banking program at Texas Tech University. He wrote this column for The Dallas Morning News.

Find it Full review section here. Do you have an opinion on this problem? Send a letter to an editor and you might just get published.


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Texas Offers Resources To Help More Students Get College Financial Aid Before Jan. 15 Deadline https://ballingertx.org/texas-offers-resources-to-help-more-students-get-college-financial-aid-before-jan-15-deadline/ Tue, 04 Jan 2022 13:50:02 +0000 https://ballingertx.org/texas-offers-resources-to-help-more-students-get-college-financial-aid-before-jan-15-deadline/ Efforts across Texas to encourage aspiring students to complete their free application for federal student aid forms by the Jan. 15 deadline have taken on new urgency after 100,000 fewer high school students nationwide have completed the forms that had to be completed in the summer of 2021. Colleges and universities use the apps to […]]]>

Efforts across Texas to encourage aspiring students to complete their free application for federal student aid forms by the Jan. 15 deadline have taken on new urgency after 100,000 fewer high school students nationwide have completed the forms that had to be completed in the summer of 2021.

Colleges and universities use the apps to examine a student’s financial needs for scholarships. The federal priority deadline for high school students is February 1, although so-called FAFSA requests will be accepted until April 1. Thousands of dollars in Federal Pell Grants are available for students in need, and these students can also access loans at great rates.

In July 2020, more than 2 million applications were filed by high school students nationwide, according to data from the National College Attainment Network show. The high school class of 2021 filled almost 5% fewer applications, or about 102,000 fewer. About 18 million students seeking college financial aid apply each year, in total.

In addition to federal student aid, Texas student aid applications may be submitted, typically offered to students to stay in the state for college. The Texas state deadline is January 15.

“I think it’s important that we help each other and help the students here in high schools like mine, where sometimes it’s a little harder for the parents to be able to support the student, so sometimes it’s necessary. to have these resources available to students, ”said Nataly Martinez, Spring 2021 graduate of Eastside Early College High School in Austin, at an event hosted by Austin ISD where students and parents were offered opportunities to help filling out the 108-question form.

Martinez, a college junior at the University of North Texas, is the first person in her family to attend college. She said she completed 62 credit hours while still in high school.

The questions on the form are often technical, and 2020 Family Income Taxes must be completed before a FAFSA can be submitted for the household. The process can be especially difficult for families with English as a second language or for those who have never had to prepare paperwork before, like Martinez’s. For high school students who need help filling out the form, information is available online or college counselors at their schools.

She thanked two of the district staff, grateful to them for helping her finish it.

“I am extremely grateful to have had them because otherwise I would not be able to go to university today. It was thanks to the resources I was able to find on this campus that I was able to pursue my university dream, ”said Martinez.

School districts, local nonprofit education associations, business groups such as local chambers of commerce and other organizations often host events or make resources available to potential students and their families. . Average earnings of college graduates are higher than non-graduates, so that entire communities benefit from increased college attendance and affordability.

FAFSA help falls into three categories, said Darrin Hanson, director of college preparation for Houston ISD, the state’s largest school district: direct student or family support, professional development and public awareness.

Houston ISD hosts events it calls “Financial Aid Roadshows” where district staff and local experts are directly available to families to help them complete their FAFSAs or answer questions. Professional development refers to the work behind the scenes to prepare experts for these events, and they take place throughout the year, Hanson said.

There is also Online Resources including videos to help families complete the FAFSA, and some districts text or email to check in with students and families and remind them of deadlines.

“Millions of dollars in federal student aid go unclaimed every year,” said Representative Lloyd Doggett, an Austin Democrat, speaking at the Austin event. “We have barriers that are preventing too many students in our community coming straight out of school from getting the education they need and want to achieve, and this morning we are trying to do something about it. this subject. “

edward.mckinley @

chron.com


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Nonprofits can apply for loans for land and affordable housing construction https://ballingertx.org/nonprofits-can-apply-for-loans-for-land-and-affordable-housing-construction/ Sun, 02 Jan 2022 03:24:00 +0000 https://ballingertx.org/nonprofits-can-apply-for-loans-for-land-and-affordable-housing-construction/ AUSTIN, Texas – The City of Austin’s Community Acquisition Program is accepting applications from nonprofits to help increase the supply of affordable housing. The program provides zero-interest loans, both recoverable and non-recoverable, to qualifying nonprofits so that they can acquire land to provide more affordable housing in the city of Austin. Loans are available on […]]]>

The City of Austin’s Community Acquisition Program is accepting applications from nonprofits to help increase the supply of affordable housing.

The program provides zero-interest loans, both recoverable and non-recoverable, to qualifying nonprofits so that they can acquire land to provide more affordable housing in the city of Austin.

Loans are available on an ongoing basis until all available funds are exhausted, according to the city.

To be eligible for a loan under this program, the following criteria must be met, says the city:

  • Eligible owner entity: Funds provided will be reserved exclusively for 501c3 registered non-profit organizations with experience in the acquisition of real estate, development, renovation, rental and sale of affordable limited-income housing for low-income households. in the city of Austin.
  • Permissible use: The funds provided will be used exclusively for the acquisition of vacant and improved real estate on small sites to be developed, renovated, rented and sold to qualifying low-income households in the city, at an affordable rate for a period of time. ‘at least forty or ninety-nine years for rental housing and owner-occupied housing, respectively. At least half of existing or future housing units on property purchased with ADCAP funds will be reserved as eligible affordable units.
  • Eligible location: Funds provided will be reserved exclusively for qualifying use by a qualifying owner entity in gentrification areas not exceeding one mile from a proposed Project Connect bus or rail line.

Organizations interested in applying for funding must join the program guidelines and submit a completed application to Housingdevelopment@austintexas.gov.

The community acquisition program is funded by Project Connect Anti-Displacements funds approved by city voters as Proposal A in the November 2020 ballot. Funding for the program is available for eligible nonprofits. for the 2021-2022 fiscal year.

Those who need more information can contact the Housing and Town Planning Department.

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Rent prices are rising rapidly in the United States, experts say
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Capital Home Mortgage Team-Texas FHA Lender Increases FHA Loan Limit in 2022. https://ballingertx.org/capital-home-mortgage-team-texas-fha-lender-increases-fha-loan-limit-in-2022/ Fri, 31 Dec 2021 20:16:35 +0000 https://ballingertx.org/capital-home-mortgage-team-texas-fha-lender-increases-fha-loan-limit-in-2022/ “FHA loans help make home ownership possible for a wider range of people.” HOUSTON, TEXAS – DECEMBER 31, 2021 – Texas FHA Home Loan – a subsidiary of Capital Home Mortgage Team, is pleased to announce the increased FHA loan limits for 2022. As of January 1, 2022, the base limit for most single family […]]]>

“FHA loans help make home ownership possible for a wider range of people.”

HOUSTON, TEXAS – DECEMBER 31, 2021 – Texas FHA Home Loan – a subsidiary of Capital Home Mortgage Team, is pleased to announce the increased FHA loan limits for 2022. As of January 1, 2022, the base limit for most single family homes will be 420 $ 680. The FHA loan limits are even higher in high cost areas up to $ 970,800.

The Texas FHA Loan is the easiest, most lenient home loan program to qualify for. They offer a low down payment and are available to home buyers with less than perfect credit. Capital Home Mortgage is committed to providing excellent customer service to ensure the smoothest transaction possible throughout the loan process. Find the Texas FHA loan options available through TexasFHA.org.

FHA Loans are the most common and widely used mortgage program in the Houston area, from first-time home buyers to seasoned buyers. With the wide range of FHA products, every borrower can make sure that an FHA loan program is right for their situation.

They offer a wide choice of mortgages:

203 (b) – the most widely used home loan program in the country.

203 (k) – combines the cost of the rehabilitation with the purchase price of the house.

203 (h) – a disaster recovery loan available to those affected by a calamity or natural disaster when the property is located in a major disaster area declared by the federal government

Construction Loan – A permanent construction loan program that converts interim financing into a long-term, fixed rate permanent loan.

HECM – commonly referred to as a reverse mortgage, exclusive to homeowners 62 and over.

Streamline Refinance – used to refinance a FHA loan to another FHA loan. Doesn’t need a new assessment, new credit report, or both.

FHA loans have many advantages over conventional loans:

Low down payment – FHA loans only require a 3.5% down payment.

Lenient Qualification Guidelines – Since the federal government insures the loan against future default, the qualifying criteria are less stringent than conventional loans.

Limited Closing Costs – FHA loan closing costs are tight and limited. There can be no unnecessary fees that a lender can charge the borrower.

Sellers Concessions – The FHA allows the seller to contribute up to 6% of the sale price as a concession to the buyer to cover closing costs and prepaid items.

Assumable loan – the loan is assumable; the buyer can take on the seller’s original mortgage instead of getting a new loan with a higher rate that qualifies for credit.

ABOUT THE COMPANY

Capital’s Home Mortgage Team is a national mortgage lender that offers FHA home loan programs from borrowers with Level 1 credit to those with not very good credit. They offer buy and refinance loans, FHA standard 203 (b) construction loans, 203 (k) loans for homes in need of rehab, and a home equity conversion mortgage, aka mortgage. reversed.

According to Conor Hayhurst, Managing Director of Capital Home Mortgage, “We have a loan program for every borrower in Texas. We have streamlined the mortgage transaction to make the entire process as efficient and enjoyable as possible.

Media contact
Company Name: Capital Home Mortgage, powered by Sun West Mortgage, Inc. NMLS # 3277
Contact: Conor Hayhurst
E-mail: Send an email
Call: 1-800-854-4142
Address:6131 Orangethorpe Avenue, Suite 500
City: Buena Park
State: California
Country: United States
Website: https://texasfha.org/


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Congresswoman Escobar Announces More Than $ 490 Million In SBA Loans To El Paso Small Businesses https://ballingertx.org/congresswoman-escobar-announces-more-than-490-million-in-sba-loans-to-el-paso-small-businesses/ Thu, 30 Dec 2021 01:43:14 +0000 https://ballingertx.org/congresswoman-escobar-announces-more-than-490-million-in-sba-loans-to-el-paso-small-businesses/ Today, Congresswoman Veronica Escobar (TX-16) announced that the El Paso District Office of the US Small Business Administration (SBA) has approved more than 9,799 loans totaling $ 490,047,441 in funding to small local businesses since the start of the COVID-19 pandemic. Thanks to these loans, countless small business owners have been able to keep their […]]]>

Today, Congresswoman Veronica Escobar (TX-16) announced that the El Paso District Office of the US Small Business Administration (SBA) has approved more than 9,799 loans totaling $ 490,047,441 in funding to small local businesses since the start of the COVID-19 pandemic.

Thanks to these loans, countless small business owners have been able to keep their businesses open and create more 650 new jobs for the community.

Small businesses have been hit hard over the past two years. In 2020, companies with less than 500 employees reported a record net job loss compared to large companies – although they also benefited from programs such as the Paycheck Protection Program (PPP), with 96% of loans going to companies with less than 20 employees.

While many loans have been launched by Congress under the bipartisan CARES law, which MP Escobar voted for in March 2020, this aid would not have been possible without the American Rescue Plan Act. Adopted by MP Escobar and her fellow Democrats and promulgated by President Joe Biden in March 2021, the American Rescue Plan Act provided an additional $ 7.25 billion for the PPP and $ 15 billion for the advance payments of targeted economic disaster loans (EIDL).

“Small businesses in El Paso are the backbone of our local economy and thanks to the American rescue plan, Congress has enabled the SBA to elevate our community’s beloved mom-and-pop businesses, ” Deputy Escobar. “I am proud of the work the SBA El Paso district office has done to provide a record number of loans while increasing to meet the huge demand for economic assistance related to COVID-19. I look forward to continuing to work together to rebuild El Paso’s small business economy and ensure that everyone is included in our economic recovery.

Total loans for FY2021 approved by the SBA El Paso district office, which covers 10 counties, including El Paso County and the West Texas counties of Brewster, Culberson, Hudspeth, Jeff Davis, Loving, Pecos, Presidio, Reeves and Terrell, are:

  • Total guaranteed loans: 104 loans approved for $ 39,095,283
  • PPP loans: 9,427 loans approved for $ 396,079,597
  • EIDL loans: 259 loans for $ 64,322,561
  • 504 Loans: 9 loans for $ 8,775,000

For more information, Click here | For our full coverage, click here


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Harrison County Farmers May Be Eligible for Emergency Loans | News https://ballingertx.org/harrison-county-farmers-may-be-eligible-for-emergency-loans-news/ Tue, 28 Dec 2021 03:49:00 +0000 https://ballingertx.org/harrison-county-farmers-may-be-eligible-for-emergency-loans-news/ Farmers in Harrison County may be eligible for emergency loans from the United States Department of Agriculture for producers recovering from natural disasters until August of next year. USDA is considering loans for growers in 23 drought-stricken Texas counties including Camp, Hopkins, Titus, Wood, Franklin, Knox, Upshur, Baylor, Harrison, Marion, Smith, Delta, Haskell, Morris, Stonewall, […]]]>

Farmers in Harrison County may be eligible for emergency loans from the United States Department of Agriculture for producers recovering from natural disasters until August of next year.

USDA is considering loans for growers in 23 drought-stricken Texas counties including Camp, Hopkins, Titus, Wood, Franklin, Knox, Upshur, Baylor, Harrison, Marion, Smith, Delta, Haskell, Morris, Stonewall, Foard, Hunt, Rains, Throckmorton, Gregg, King, Red River and Van Zandt counties.

“According to the US Drought Monitor, these counties suffered a drought intensity value during the growing season of 1) D2 Drought-Severe for 8 consecutive weeks or more or 2) D3 Drought-Extreme or D4 Drought-Exceptional . ”said a USDA statement on the act.

A USDA D1 drought classification describes droughts with unusually dry conditions with short-term drought and “persistent water deficits,” according to the National Drought Mitigation Center at the University of Nebraska-Lincoln. Droughts classified as D3 or D4 generally show signs of severe to widespread crop losses and water shortages or emergencies.

“Emergency loans can be used to meet a variety of recovery needs, including replacing essential items such as equipment or livestock, reorganizing a farm or refinancing certain debts. The FSA will review loans based on the extent of losses, available security, and repayment capacity. The statement said.


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TLL Temple Foundation awards $ 1.15 million in grants https://ballingertx.org/tll-temple-foundation-awards-1-15-million-in-grants/ Sun, 26 Dec 2021 04:18:45 +0000 https://ballingertx.org/tll-temple-foundation-awards-1-15-million-in-grants/ The TLL Temple Foundation selected Communities Unlimited and PeopleFund to receive $ 1.15 million in grants through the Rural Opportunity Catalyst for East Texas initiative. The grants will help the two certified nonprofit community development finance institutions expand their presence in rural East Texas, increasing direct local access to tailored financial products, services, and technical […]]]>

The TLL Temple Foundation selected Communities Unlimited and PeopleFund to receive $ 1.15 million in grants through the Rural Opportunity Catalyst for East Texas initiative. The grants will help the two certified nonprofit community development finance institutions expand their presence in rural East Texas, increasing direct local access to tailored financial products, services, and technical assistance.

The press release went on to say that many rural communities in East Texas are struggling to overcome difficult trends, including declining populations, slowing economic growth, limited broadband access and delays in education and health. The COVID-19 pandemic has further exacerbated the pressure on people and rural places. These two CDFIs are among more than 1,200 certified organizations of this type in the United States.

But these types of services are lacking in rural East Texas. During the pandemic, these services have been essential in helping marginalized communities and businesses stay afloat, including early access to initiatives such as the Paycheck Protection Program.

CDFIs are essential for accelerating equitable rural entrepreneurship and the development of new businesses. But in the absence of local CDFIs, communities, small businesses or potential entrepreneurs had no way of obtaining these kinds of essential services and technical assistance. The TLL Foundation created the ROC-ET initiative to fill these gaps and bring CFDIs to rural East Texas.

Communities Unlimited and PeopleFund both have a history of accomplishment in rural communities. The grants to which these organizations have access constitute a major advance in the revitalization of local and regional economic ecosystems.

“These grants will make economic opportunities more accessible to all Eastern Texans and represent a strategic step in our continued quest to reduce poverty and build a thriving rural East Texas,” said Wynn Rosser, president. and CEO of the TLL Temple Foundation.


With the addition of the Rural Placemaking Innovation Challenge grant funds provided by the US Department of Agriculture, Communities Unlimited will be able to provide access to business loans of $ 2,000 to $ 100,000. In addition to having money to lend, they will be able to provide technical assistance and training that will prepare businesses for growth and capital. Communities Unlimited has been working in East Texas with rural water and sanitation systems, but this will increase funding and other professional opportunities that will be readily available.

PeopleFund will provide technical assistance, business planning, monthly workshops and specialized initiatives such as the BIPOC Accelerator for Small Businesses and Veterans Loan programs. Only time will tell how these programs are used and how they can help new and existing businesses start or elevate their current business to new heights.

It’s a big boost for local economies. And with the support of both organizations, the region is set for greater achievement and economic success. Additional information on Communities Unlimited or PeopleFund can be obtained by contacting Jasper Economic Development Corp.


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Farmers and Ranchers in 11 Texas Counties Eligible for Disaster Assistance | Characteristics https://ballingertx.org/farmers-and-ranchers-in-11-texas-counties-eligible-for-disaster-assistance-characteristics/ Thu, 23 Dec 2021 21:33:00 +0000 https://ballingertx.org/farmers-and-ranchers-in-11-texas-counties-eligible-for-disaster-assistance-characteristics/ AUSTIN – The agricultural services agency of the United States Department of Agriculture has designated 11 counties in Texas as major disaster areas, qualifying them to receive federal emergency loans. Producers are eligible for loans if damage occurred during at least one of the following four events: Hurricane Nicholas on September 14; excessive humidity that […]]]>

AUSTIN – The agricultural services agency of the United States Department of Agriculture has designated 11 counties in Texas as major disaster areas, qualifying them to receive federal emergency loans.

Producers are eligible for loans if damage occurred during at least one of the following four events: Hurricane Nicholas on September 14; excessive humidity that occurred from May 1 to September. 30 ; the winter storm Uri which occurred from February 10 to 19; and drought, according to a press release.

“Loans can be used to meet a variety of recovery needs, including replacing essential items such as equipment or livestock, reorganizing a farm or refinancing certain debts,” officials said. USDA.

The FSA will review the loans based on the extent of losses, available security and repayment capacity, the statement said. Each event has a different deadline for submitting an application.

The top 11 eligible counties are Foard, Wilbarger, Throckmorton, Young, Castro, Hale, Jim Wells, Kleberg, Nueces, Willacy and Brazoria.

According to the statement, 34 other contiguous counties are also eligible to receive funding.

This includes Palo Pinto County, which qualifies for damage that occurred during the winter storm in February. The deadline to submit an application is August 8.

For production losses, a 30% reduction of a primary crop in a designated or contiguous county is required. Quality losses, such as getting a 30% reduced price for crops damaged by floods, may also be eligible for assistance, he said.

“These loans help producers who experience qualifying agricultural losses directly caused by the disaster in a county declared or designated as a disaster or primary quarantine area,” USDA officials said.


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Biden extends student loan hiatus until May 1, 2022 https://ballingertx.org/biden-extends-student-loan-hiatus-until-may-1-2022/ Wed, 22 Dec 2021 19:02:43 +0000 https://ballingertx.org/biden-extends-student-loan-hiatus-until-may-1-2022/ Today the US Department of Education announced a 90-day extension of the pause on student loan repayments, interest and collections until May 1, 2022. The extension will allow the Administration to assess the impacts of the Omicron variant on student borrowers and give borrowers more time to plan for resumption of payments and reduce the […]]]>

Today the US Department of Education announced a 90-day extension of the pause on student loan repayments, interest and collections until May 1, 2022.

The extension will allow the Administration to assess the impacts of the Omicron variant on student borrowers and give borrowers more time to plan for resumption of payments and reduce the risk of default and default after restart. . The Ministry will continue its work to ensure a smooth transition for borrowers to repay, including improving the service of student loans.

“From day one of this administration, the ministry has focused on supporting students and borrowers throughout the pandemic and ensuring they have the resources they need to repay successfully,” said US Secretary of Education Miguel Cardona. “This further extension of the repayment break will provide critical relief to borrowers who continue to face financial hardship as a result of the pandemic, and allow our administration to assess Omicron’s impacts on student borrowers.” As we prepare for the return to repayment in May, we will continue to provide tools and support for borrowers to adhere to the repayment plan that is appropriate for their financial situation, such as an income-based repayment plan. Students and borrowers will always be at the center of our work at the Department, and we are committed not only to ensuring a smooth return to repayment, but also to increasing the accountability and customer service of our loan officers as borrowers move forward. prepare for repayment.

The pause on student loan payments will help 41 million borrowers save $ 5 billion per month. Borrowers are encouraged to use the extra time to ensure their contact information is up to date, and to consider enrolling in electronic debit and income-driven repayment plans to facilitate a smooth transition to repayment. More information can be found at StudentAid.gov.

Today’s action is part of a series of measures taken by the Biden-Harris administration to support students and borrowers, make higher education more affordable and improve the service of student loans, including offering nearly $ 13 billion in loan relief targeted to more than 640,000 borrowers. Actions within these include:

  • Reorganized the civil service loan forgiveness program in October, which has already provided $ 2.4 billion in loan relief to 38,000 borrowers. As part of this effort, the ministry implemented a limited PSLF waiver to count all prior payments made by student borrowers to the PSLF, regardless of the loan program. Borrowers who work in the public service but have not yet applied to the PSLF must do so by October 31, 2022 and can find more at StudentAid.gov/PSLF.
  • Provide $ 7.0 billion in assistance to 401,000 totally and permanently disabled borrowers.
  • Approval of $ 1.5 billion of borrower defense claims, including providing full relief to approved claims and approving new types of claims.
  • Provide $ 1.26 billion in closed school landfills to 107,000 borrowers who attended the now defunct ITT technical institute.
  • Help 30,000 small business owners with student loans seeking help from the Paycheck Protection Program.


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