The Black Farmers' Plight

The Federal Housing Administration (FHA) offers a variety of loan programs to help people purchase or refinance a home. One of these programs is the FHA’s Mutual Mortgage Insurance (MMI) program. This program, also known as the FmHA loan program, is designed to help low-income households obtain home financing. It offers a variety of loan options, including fixed-rate mortgages, adjustable-rate mortgages, and government-insured loans.

The FmHA loan program is designed to provide financial assistance to low-income households who are unable to obtain financing through traditional lenders. The program offers a variety of loan options to meet the needs of different borrowers. FmHA loans are insured by the Federal Housing Administration, which means that the FHA guarantees the loan in case of default. This provides lenders with a degree of protection against losses due to borrower default.

The FmHA loan program also offers a variety of benefits for borrowers. These include low interest rates, flexible repayment terms, and the ability to purchase a home with a small down payment. Additionally, borrowers can benefit from a variety of loan options, such as adjustable-rate mortgages, fixed-rate mortgages, and government-insured loans.

In order to be eligible for an FmHA loan, borrowers must meet certain criteria. These include having a steady source of income, a good credit score, and a valid Social Security number. Borrowers must also be able to demonstrate the ability to make their monthly mortgage payments. Additionally, borrowers must be purchasing a home that meets certain safety and structural standards.

The FmHA loan program provides a viable option for low-income households to purchase or refinance a home. With a variety of loan options, competitive interest rates, and flexible repayment terms, the FmHA loan program can help borrowers achieve their homeownership goals.

Key Points:
• The FmHA loan program is designed to help low-income households obtain home financing.
• The program offers a variety of loan options, including fixed-rate mortgages, adjustable-rate mortgages, and government-insured loans.
• In order to be eligible for an FmHA loan, borrowers must meet certain criteria, such as having a steady source of income, a good credit score, and a valid Social Security number.
• The FmHA loan program offers a variety of benefits for borrowers, including low interest rates, flexible repayment terms, and the ability to purchase a home with a small down payment.

People Also Ask:
Q: What is the FmHA loan program?
A: The FmHA loan program is a Federal Housing Administration loan program designed to help low-income households obtain home financing.

Q: What are the eligibility requirements for an FmHA loan?
A: In order to be eligible for an FmHA loan, borrowers must meet certain criteria, such as having a steady source of income, a good credit score, and a valid Social Security number.

Q: What are the benefits of an FmHA loan?
A: Benefits of an FmHA loan include low interest rates, flexible repayment terms, and the ability to purchase a home with a small down payment.

Fmha Loans – How to Choose

The video highlights the plight of the Black American farmer as presented through poem and illustration by Tanya DeVonne. The poem is an excerpt from the book –“In Black Skin”
https://bit.ly/inblackskin

It addresses how the U.S. Department of Agriculture engaged in years of systemic discrimination against Black American farmers.

“Discriminatory practices by the USDA continued long after the passage of the Civil Rights Act in 1964, which legally ended racial discrimination in federal programs. In 1980, the North Carolina Black Farmers organization filed a lawsuit against the FmHA charging racial discrimination in farm aid. The Equal Employment Opportunity Commission investigated the complaint and found that Black farmers received fewer loans for smaller amounts, were less likely to get deferred loan payment schedules, and more likely to have to agree to liquidation of their property if they defaulted. A subsequent USDA investigation found that Black farmers typically waited 134 days longer for loan decisions and were nearly 30% less likely to get loans approved than white applicants. Cumulatively, decades of discrimination through these programs prevented Black farmers from accessing the capital needed to sustain, adapt, and grow their farming enterprises. The result was massive transfers of both financial resources and land from Black to white farmers.

The Plight of Farmers & The Tools of Dispossession (1900-1950)
Duke Sanford-World Policy Center
https://wfpc.sanford.duke.edu/durham-food-history/plight-farmers-tools- dispossession-1900-1950

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“USDA Secretary Thomas Vilsack had done nothing to help Black farmers . . .“The amount of wealth loss could be in the trillions of dollars, ” said Lawrence Lucas, President Emeritus of the USDA Coalition of Minority Employees and representative of the Justice for Black Farmers Group.

EXCERPT from Washington Informer.
” In 1920, Black farmers peaked at nearly 1 million, constituting 14 percent of all farmers. But between 1910 and 1997, they lost 90 percent of their property.

Reference article:
https://www.newsbreakapp.com/n/0dHyW70Z?&share_destination_id=MTcyMDUyNDEyLTE2Mzk5NzYyMTM3Mzg=&s=a3&pd=0BduguE7&hl=en_US

Systemic Racism Cited in Plight of Black Farmers
The Washington Informer
Stacy M. Brown

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