The federal government is forwarding Iowa more than 100-million dollars in an effort to help more people buy homes in rural parts of the state. Senator Tom Harkin says the money is to guarantee mortgages through the American Recovery and Reinvestment Act. "It was part of the stimulus bill," Harkin says.
"The loans are designed to encourage economic development and home ownership in non-urban areas." He says the goal is to spark the creation of jobs and economic development while making the "dream of home ownership a reality for families" across much of the Hawkeye State.
Harkin says, "Over a thousand houses could be effected by this in rural Iowa and that’s in areas with a population of 50-thousand or less." He says the recession has made it increasingly harder for many rural residents to get home loans. This U-S-D-A program, Harkin says, aims to "improve the quality of life for rural Americans by ensuring that they have access to safe, well-built and affordable homes."