OCR Text |
Show i i FmHA offers services causing many FmHA borrowers to give up their low interest loans without first seeking informed advice on how best to relieve their financial crises. For some, this, could mean forfeiting their only opportunity to become homeowners," said Harward. Inflation and reduced employment have placed a double burden on families living in small communities and rural areas, according to Harward. Higher costs for utilities and other services and the added cost of transportation to and from work are problems that place a strain on household budgets for all rural people. Reduced working hours, loss of overtime, and in some cases, loss of jobs often make the loan seem impossible for new homeowners with young families. FmHA field office staffs are scheduling counseling interviews with borrowers who are delinquent with their payments. Families will receive assistance in analyzing their situation and working out realistic financial plans. Farmers Home Administration Ad-ministration is stepping up efforts to provide financial counseling and supervision to its rural housing borrowers. "The agency was created to provide supervised credit to both its farm and rural housing borrowers," said Kimball C. Harward, FmHA chief of Rural Housing in Utah. FmHA loan programs are designed to provide budgeting, recordkeeping and other management assistance, along with loans to help families achieve their farm or homeownership objectives. ob-jectives. "But the tremendous demand for new loans has frequently detracted from the supervisory aspects of our programs. As a result, the combination com-bination of the general economic climate and individual family f inanciaj jBjobJems ,are |