Section 502 direct loans from the federal Rural Housing Service are not as well-known as Sec. 502 guaranteed loans, but for lower-income home buyers in rural areas the loans could make home ownership possible. The loans go to households earning as low as 50 percent of the area median income. NAR Government Affairs sits down with the director of the program to learn about how the program works.
Video: NAR Senior Counsel Finley Maxson discusses new CFPB integrated disclosure forms and transaction requirements taking effect on August 1, 2015.
The panel and audience debrief the role play.
Chair opens the hearing; parties make their opening statements and present their cases; parties begin cross-examination.
NAR Chief Economist Lawrence Yun talks about the rise in home sales, median home prices, regional and local market variations, and pent-up demand.