There are an endless number of ways to find deals, some work better than others, and the more creative you can be, the better you will be at finding deals.  Your biggest stepping stone will be recognizing when a deal IS a deal, and that will come through time and continued education.  Looking back, I have found that many deals I thought weren’t deals when I first started, and did nothing with, were definitely deals, and a lot of deals that I wasted time on in all reality were not deals at all.  This is something that will come with time, education, and experience.

Insofar as finding the deals…  There are a number of ways that you can go.  I recommend a number of different ways.  First, there is farming, which I highly recommend for beginners because it will help you get a good idea of values, and your market area.  Farming is picking an area that you want to focus on, and to drive that area on a regular basis,taking note of properties that are dilapidated and contacting the owners, typically by letter or postcard and offering to purchase the property.

Other ways are using bandit signs (those little signs on telephone poles and/or on street corners). I have heard can be highly profitable as well, although you should check your local ordinances as they could be illegal in your area.  I have known other investors that gladly pay the citations and still use the signs, so that’s up to you.  You have received fair warning from me though.  Of course, if you happen to be a politician, I believe you may have a different type of ordinance book that applies to you, at least that’s the way it appears in my area during election time.

Another way is just using a local licensed real estate agent and getting them to do a search for you. In our area, agents can actually select the exact area that you want on a map, and then put in your criteria, and set you up where their system automatically emails you daily, weekly, monthly, or however they set it up, of new listings.  The only effort that is needed is the initial setup of the list.

The ways that you can find deals are really limitless, and I could go on and on about different strategies that you can employ to find deals…but the important thing is that you take action and do SOMETHING, regardless of what you do….Something is always better than nothing, and will bring you more deals than doing nothing. While that sounds pretty stupid, there are investors out there that do NOTHING and then wonder why they haven’t gotten any deals.

Some additional ways include the following:

Newspaper Ads

Direct Mail

Flyers

Car Magnets

Business Cards

Word of Mouth

…and on and on and on!!

Here are your Action Steps for this lesson:

Make a list of all the advertising in your area that you have seen real estate investors implement.

Write down any additional advertising ways that you can think of to start getting the word out that you are looking for deals…really brainstorm

Meet with a real estate agent and get them to setup an automatic email advising you of deals in your area…once you start SEEING deals on a regular basis right in your back door, it will probably help you to get some deals going for yourself!

If you’re buying to hold, you can typically give a bit more for the property than you can when wholesaling, because typically you want the numbers to work out to where you make a profit every month. And making a profit doesn’t mean that you forget to include taxes, insurance, and maintenance, as well as a vacancy factor. Forget to include those figures,and you will be done investing before you even start. When you’re wholesaling, you have to go lower so you can collect your fee.

Probably the number one reason that I have seen most investors fail is that they don’t work the numbers correctly, so you’ve really got to do your due diligence before you jump in. This is even more true if you’re buying to hold. On the other hand, I have even seen investors that have made a fortune even though they have screwed things up. Heck, my first deal, I screwed tons of stuff up and still made $5k. I’ve seen investors that figure too low on repairs, and then figure too high on the After Repaired Value, and then things don’t work out right and they are out of business before they even begin.

Lots of investors wait to get started until everything is “perfect”. If you wait for everything to be in perfect alignment, you won’t do a thing. So,that’s why in my opinion, Wholesaling is the best way to start before things are “perfect” where you’re not risking losing your butt, but you can still make money and gain knowledge. Know that the fact of the matter is that YOU WILL MESS UP & YOU WILL GET THINGS WRONG! Sorry if I’m the bearer of bad news, but guess what, that’s part of the learning process. So, be prepared to be wrong, but stack your bets to your advantage, and if you’re brand new at this, start off wholesaling because it’s a lot less risky than buying to hold when starting out. But don’t hang in that realm too long. Otherwise you’ll be missing out on the BIG picture of Real Estate Investing! That’s something that I’ve seen way too often! Investors that finally do a wholesale deal, will neglect to spread their wings and continue to learn and build. If you’re anything like me, you want to build something that will provide income for you and your loved ones whether you do another deal or not!

$200,000 mortgage
30-year fixed rate mortgage
6 percent interest rate
$1,199 monthly principal and interest payment
1. Add One Extra Payment Each Year

Perhaps the easiest way to save money on your mortgage is to make an extra mortgage payment each year. These extra payments are automatically applied on your principal, not interest. Not only does your remaining balance drop, but you will not have to pay interest each month on that principal for the remainder of the loan term.

Savings: $47,000. By making one extra payment of $1,199 each year and applying it to your principal, you could save over $47,000 in interest and cut 5 years off the life of the loan.

2. Set up Bi-Weekly Payments

Another trick to pay off your loan early is by creating a bi-weekly payment plan. Put half of your monthly mortgage payment in a savings account every other Friday (or, on your pay day). Each month, pay your mortgage from the account. At the end of the year, you will have made 26 half payments, which is 13 full payments. This will leave with you an extra payment that you can put toward your principal. Most people manage the separate accounts themselves, but there are companies that you can hire to act as an escrow service and manage the payments for you. Beware that they could charge you for this service.

Savings: $47,000. Same as extra payment.

3. Get Rid of Your PMI

If your down payment was less than 20 percent, you were probably required to pay private mortgage insurance (PMI). However, you can petition your lender to cancel the insurance as soon as your mortgage balance falls below 80 percent of the home’s appraised value. This can happen if your home’s value has gone up or you have repaid some of the principal. This may require a new appraisal but could shave hundreds of dollars off your monthly payment.

Savings: $130 per month. If you only put down 5 percent and had a PMI rate of .78 percent, you could save $130 per month.

4. Reduce Your Assessment

Property taxes can cost thousands of dollars a year. If you think your home’s value has decreased in the last year and it was not properly accounted for in your tax assessment, you can petition your assessor and fight your assessment. Lowering your tax assessment will lower your yearly taxes.

Savings: Varies. Depends on your local tax rate and home adjustment, but could be hundreds of dollars a year.

5. Reset Your Mortgage

This is not commonly known, but some lenders will reset (recast) your monthly payment if you make a large payment towards the principal of your mortgage. Your monthly payment stays the same, but the term of your loan shortens. When the loan is recast, your monthly principal and interest is recalculated so you end up with a lower monthly payment over the existing term of the loan.

Savings: $120 per month. Putting $20,000 into the loan would reset the payment to $1,079, saving you $120 per month.

6. Modify Your Loan

If you are late on your payments and are going through a financial hardship, you may be eligible to modify terms of your loan (such as rate, term, or principal balance) to make it more affordable. The goal of these programs is to allow borrowers to stay in their homes and continue making their monthly payments. Not everyone qualifies for these types of programs, but if you do, they can save you a lot of money. To find out if you qualify, contact the servicer of your mortgage or visit the Making Home Affordable eligibility site.

Savings: Varies. It can reduce your interest rate to as low as 2 percent, extend your term to 40 years, or reduce your principal.

7. Refinance

Lastly, the most common way to save money on your mortgage is by refinancing to a lower interest rate. Reducing your rate can lower your monthly payment and help you save on interest payments. However, there are costs associated with refinancing so you want to be sure you are going to save enough to cover the refinancing fees. With rates at historic lows, if you can refinance, and you haven’t already, you should consider it.

Savings: $126 per month. By lowering your interest rate to 5 percent, you would have a payment of $1,073 which would save you $126 per month. If the refinance costs $5,000, you would recoup the fees after 40 months.

Step One: Analyze Your Market & Learn What Deals Really Are
The next thing I would do is get off my butt and start doing my basic homework. I would go out and see no less than 50 and probably 100 properties in my investment area of choice. I am not kidding! I would immediately build a spreadsheet with data on no less than 100 properties. Things like Prices, Expected Rents, Repair Budgets, etc. This would give me the basis or foundation to understand what is a good deal, what is a bad deal and what is a great deal.

Step Two: Establish Your Deal Selection Criteria
After I have built my basic understanding of the market I would decide on what criteria I want to use to decide on what is and isn’t a good deal. I recommend every investor pick one metric that is easily transferable between property types. For me that metric is “yield,” or my expected return on all cash outlaid to secure and rehab a property. Today I personally look for expected yields in excess of 20% in my market.

Step Three: Start to Make Offers
After understanding my market and deciding on my criteria for identifying a great deal I would start making offers on properties that met my criteria. I would hold fast to my criteria and not let bidding wars drive up prices. In fact, you should only expect to get 1 out of every 10 properties you make an offer on. If your success rate is higher than that I believe you are offering too much on your properties.

By following this strategy I am convinced I could secure four investment properties with government-backed loans inside of 90 days and secure 10 properties inside my first year. Every property I bought would have a 30-year fixed interest rate and I would be a very happy man.

As an Alternative: Find Passive Real Estate Investment Opportunities
Now if my market didn’t offer these types of returns or I didn’t have the time to devote to learning a new market I would still find away to participate. I would find an investor with a proven track record, a simple-to-understand process and become a passive investor. This would insure a decent return with a lot less headaches, reduced risks and still give me the upside I want.

In the end if I were starting today I would not let this investment cycle pass me by. I would become a very active investor in my market and if my market didn’t offer returns I would find a way to be a passive investor in another market that offered great returns.

An early mortgage payoff can net substantial interest savings compared to making scheduled payments for 15 or 30 years.

Paying more quickly reduces your housing cost, freeing up that money for other needs and wants, says Ronit Rogoszinski, a wealth adviser at Arch Financial Group in Garden City, N.Y. You’ll still be responsible for property taxes, homeowners insurance, home maintenance and repairs, but your mortgage payment will disappear. An argument can be made in favor of allocating more cash to investments instead of eliminating low-cost debt. But he says being mortgage-free can be “a very beautiful thing,” especially for homeowners near retirement age.

Here some ways to get rid of your mortgage sooner.

- Pay more each month
The simplest way to pay off a mortgage is to add an extra amount, say $50 or $500, to each monthly payment, Rogoszinski says. You shouldn’t sacrifice necessities, such as sustenance or medical care, but putting a little more toward the mortgage can be a good financial habit.

“If you can manage your expenses in a way that an extra couple of dollars goes toward the mortgage, that’s freeing up money down the road sooner rather than later,” she says.

Some homeowners add enough to their payment each month to make one extra payment each year. Divide one payment by 12 or multiply one payment by 10%, and add that to the amount each month.

Make sure the extra money is applied to principal, not interest or your escrow account. Prepaying interest or padding your escrow won’t accelerate your loan payoff date.
What homeowners insurance doesn’t cover

- Make extra payments
Making an extra payment in January, December or some other month is more challenging than paying a little extra each month, but the benefits are the same, Rogoszinski says.

The faster you get rid of your debt, the more cash flow you have, the more things you can do,
One way to make that extra payment less painful is to make payments every two weeks instead of every month. The result is 26 half-payments instead of 12 full payments. McIntosh says biweekly payments can knock approximately six years off a 30-year term, as long as the extra amounts are applied to principal.

- Pay a lump sum
A gift of money, an inheritance, a bonus or an income tax refund creates another chance to put extra money toward your mortgage. This strategy works best if you don’t have other, more costly debt, You really want to pay off the most expensive debt you have as fast as possible.

Calculator: How much home equity can you borrow?
Examples of higher-cost debt include most private student loans, auto loans, department store cards and revolving credit cards.

Another option is to deposit your windfall into a savings account and set up an automatic monthly payment from that account to your mortgage, That way, you can have money in the bank and put money toward paying off your mortgage, too.
A more aggressive approach is to invest the lump sum for a return that’s higher than your mortgage rate, then use the principal, plus appreciation, dividends and interest to pay off the mortgage when you retire.

Either way, the key is figuring out how to eliminate your mortgage, because that makes the difference between who might end up with a comfortable retirement and who will not.4. Refinance to speed up payoff. Refinancing can help you pay off your mortgage sooner, the idea being that a lower payment frees up money that can be applied to additional principal payments.

The biggest hurdle, is the effect of declining home values. A lower valuation can throw off your loan-to-value ratio, result in an appraisal that’s too low to support your loan amount or trigger a need for mortgage insurance, making your new payment more costly and refinancing less attractive.

You’ll also need a good credit score and two years’ worth of documented stable income.

To maximize the benefit of refinancing, shorten the term of your loan. For example, if you’ve paid off 10 years of a 30-year term, refinance with a 15-year mortgage instead of a new 30-year loan.

- Shrink your housing costs
Selling your house might seem like a dramatic way to get rid of your mortgage, but it’s certainly effective, leaving you free to buy a more affordable home for cash or become a renter without any housing debt.

Whether downsizing makes sense is largely a matter of your needs and personal lifestyle, don’t try to time the housing market by selling high and buying low. That’s a strategy more appropriate for professional real-estate investors than for homeowners.

- Tap retirement savings
Homeowners who don’t have spare cash on hand might be tempted to tap a retirement account to pay off a mortgage. This idea has gained purchase in recent months, as legislation pending in Congress would waive the early withdrawal penalty if money removed from a retirement account were used to pay a home loan.

One exception: If you’re in danger of foreclosure due to a temporary financial setback, a retirement account might be a resource of last resort.

The year of 2012 does not have to be remembered as a financially straining year if steps are taken now to reduce costs. By making a conscious effort to save money through the year, these steps can be followed in subsequent years to ensure better financial harmony.

-Make A Budget – Yeah, I know what you’re thinking: ‘Duh.’ But trust me, you’d be surprised how much you can save by just keeping track of what you spend, instead of blowing whatever you’ve got in your bank account(s).

-Eliminate Optional Expenses – Instead of stopping off at Starbucks every morning, try making your own coffee at home. It’ll save you at least $100 a month or more depending on your habit level. Rather than waste hundreds of dollars per year on a gym membership, buy some free weights and a stationary bike and work out from home. Do you really need to blow $200 on a pair of jeans? You get the point . . .

-Side Projects – You can only cut down on expenses so much, so to help hasten the debt elimination process you need to bring in some extra income. Always fancied yourself a good writer? Well, there’s plenty of freelancing opportunities out there. Maybe you’re a graphic designer, or a consultant of some kind? Weigh some of these options. You’d be surprised how much your skill set may be in demand.
- Conserve Energy
Start with simple things like turning off lights in rooms when they are unoccupied, then consider changing your light bulbs to compact fluorescents—doing both can save a bundle. You can also save electricity by plugging your gadgets into power strips and then turning the whole power strip off when the gadgets aren’t in use. This will keep the electronics from sucking electricity day and night. Also consider making an investment in new windows, which will save serious money in the future as they make your home more air-tight. Keep in mind that these changes are not only good for the pocket book, they’re good for the earth. Everyone wins!
- Condense Services
Bills for services like cell phones, internet, television and even car insurance can be reduced by switching to cheaper plans through other providers. But if you want to really get in the spirit of saving, consider getting rid of some of these services. By canceling your land line and using only a mobile phone you’ll cut a substantial amount from your monthly phone expenses. By cutting cable and watching television only on the internet, you can cut another major expense. You can even use your Wii or X Box with Netflix and Hulu Plus. These changes to your TV and phone habits can be made without much inconvenience.
- Dine Out Less Often
We all know it—eating meals in restaurants can be expensive, especially if gratuities for service are factored into the equation. If you’re serious about saving money, you’ve just got to buckle down and make the change. Many similar foods can be purchased in a local grocery store for a fraction of the cost. Exquisitely crafted meals can be prepared in home kitchens. As an added touch, home dining rooms can be adorned with candles and other fancy decorations to give the meal an added touch of sophistication.
- Collect Coupons
Couponing has evolved. In addition to pulling coupons from the Sunday paper or the mail, you can also find tons of coupons online and use coupon apps on your smartphone. By using any of these forms of coupons, it is amazing how much money can actually be saved. The key is to focus on goods and services you would have purchased with or without the coupons. Grocery costs and other bills can be drastically reduced to almost nothing if coupons are used wisely. And if your friends and family haven’t discovered the utility of couponing, get them to give theirs to you and save extra!
- Purchase Second Hand Goods
Many people think of the items available at thrift stores as having a substandard quality. This notion, however, is not always true. Many gently used brand name clothing items in good condition can be purchased at a reduced price. Other household items can be found at bargain prices.
Second hand stores are also a great option for avid book readers, as most of these stores offer a large collection of books and other media items at unbeatable values. Also keep in mind that buying second hand is very eco-friendly. By buying things that other people no longer need, you prevent them from ending up in a landfill.

Getting out of debt isn’t easy, but it’s also not impossible. I’d be willing to bet too that implementing these lifestyle shifts will not only save you money over time, but will probably improve the quality of your life experience. When you make a budget, you take on a new level of personal accountability. Eliminating optimal expenses teaches you that you can get by quite happily with less which makes for a more peaceful mind. And by shouldering a few side projects here and there, you make yourself more marketable. And that’s a good thing, especially when the market becomes unstable.

All three sound like a good idea to me. So why not give them a go? After all, it’s still early January . . . plenty of time for New Year’s resolutions.

There are many programs and home loan products that allow homeowners to take advantage of the equity they’ve built up in their homes. One resource qualified FHA mortgage holders have at their disposal is the Home Equity Conversion Mortgage (HECM) loan, also known as an FHA reverse mortgage. FHA HECM loans are like other home equity loans–they let you cash in on part of the value a home has built up over the years. But the FHA reverse mortgage is unique because FHA borrowers don’t make any payments on FHA HECM loans until they stop using the home as their principal residence. There are no mortgage payments due until you stop using the home as a primary residence.

Since a “principal residence” is defined as the place where the borrower does the majority of their dwelling, using summer homes, time shares or RVs doesn’t disqualify you from an FHA HECM loan. As long as you meet the requirements for an FHA HECM loan and use the property as your main address, you can take the cash value of your home’s equity to use in any number of ways.

QUALIFYING FOR FHA REVERSE MORTGAGE OR HECM LOANS

To qualify for an FHA reverse mortgage, you must be at least 62 years old. You must own your home, or have a low enough balance that the FHA reverse mortgage loan will pay off the outstanding amount when the HECM loan is approved. Like other FHA loans and FHA mortgages, the property must be either a single-family residence or a one to four unit property where the borrower occupies one of the units.
Condos and manufactured homes qualify, but only if they meet FHA requirements.

FHA reverse mortgages are also different than conventional reverse mortgages or HECM loans because the borrower is required to get financial counseling from an approved HECM counselor. This is a condition of the loan and is non-negotiable. The Department of Housing and Urban Development recommends searching for an approved counselor by calling the Housing Counseling Clearinghouse at 1-800-569-4287.

NON-FHA HOMES

It doesn’t matter if you purchased your home with a conventional loan or an FHA mortgage. As long as you meet FHA and HUD requirements for approval, you can use an FHA reverse mortgage to claim the cash value equivalent for the equity in your home.

One of the conditions of the FHA reverse mortgage is that you aren’t allowed to owe more than the home is worth. The amount of your loan is determined by interest rates, your credit report, and by the appraised value of the property. If you are approved for an FHA reverse mortgage or HECM, you must pay off any remaining balance at closing time on your new loan. As with any other FHA home loan, you are still responsible for paying property taxes, insurance, and related bills.

Like other FHA mortgage products, your application must be made through an FHA approved lender. If your current financial institution does not participate in FHA loan programs, look up the local FHA-approved banks in your area to get started.

Your Personal Credit History

One of the most important things you must remember as a small business owner is that your personal credit history plays an enormous role in your ability to attract financing for your business. Banks and other financial institutions will look closely at your credit history and credit score before lending you money.

You should obtain your credit reports from the three main credit reporting agencies, TransUnion, Experian, and Equifax, before applying for a loan and make sure there are no errors on them. If there are any errors, write the credit reporting agency a letter disputing the error so a correction can be made. Make sure that you are able to explain any late payments or defaults on your credit report before you go to the bank. So, the first thing you should do before approaching a bank is to have your credit history in order.

How Much Money Do You Need?

Second, you must estimate how much you will need in assets to start up your business, such as inventory, money for payroll, supplies, manufacturing expenses, real estate, and miscellaneous assets.

How Good is Your Business Plan?

Third, you will need to have a business plan. The business plan must tell the bank what the business is and why it is feasible in your area. You must make your case both in words and in numbers. Most banks require at least five years of forecasted financial statements before they will make a loan. In other words, you must look five years out into the future and try to estimate your sales and expenses for those five years. This is not an easy task, but you can base your estimates on similar businesses in your area and economic variables such as inflation rates. Developing a business plan will require some research on your part, and you may want to hire a financial planner or an accountant to help you.

The Profitability of Your Business

Fourth, you must convince your loan officer that your business will be profitable. You use your forecasted financial statements for this task. The loan officer must be persuaded the business will be profitable in order to be confident that you will pay back the small business loan in a timely manner.

What if Your Loan is not Granted?

One of the last questions the loan officer is likely to ask you is what you will do if your loan is not granted. Have a good answer prepared for this question. You want to remain excited and positive about your business; you want to explain to the bank that you will simply try other lenders and programs that cater to small businesses until you find someone to finance you.

Remember that you may have to try several lenders before you are successful in obtaining a small business loan. Don’t get discouraged!

Banks and other lending institutions cite risk factors as their main reason for turning down small business loan requests from startup businesses. Yet, you can still get a loan for your business by proper preparation.

Avoid the common error of thinking you can start with grants from the government and community agencies. It is even more unlikely than getting the money from your own savings, family, friends, or a bank.

The main requirements of attaining a small business loan are your personal credit history, business plan, experience, education, and feasibility of the business you are starting or expanding.

The most important task to obtain a small business loan is preparing a business plan. The business plan needs to show the lender that providing you with a small business loan is a low-risk proposition. Your business plan must answer the questions a lending institution would ask. These questions usually are:

How much money do you need?

If you are starting a business, this should be included at least in the start-up capital estimate. Accuracy is important, so request enough money to invest wisely.

What are you going to do with the money?

You will have to provide, in detail, the designated use of every dollar requested. A small business loan is often needed for: operations (new employees, marketing, etc.), assets (equipment, real estate, etc.), or to pay off business debts.

When will you repay the small business loan?

Explain in detail how this small business loan will serve as a stepping-stone for your business. You will need to convince the lender (with your financial statements and cash flow projections) that you are able to repay the loan through the expected long-term profitability of your business.

What will you do if you don’t get the loan?

Let lenders know that rejection will not discourage you from starting or growing your business. You want to portray a confident and determined personality and you will try lender after lender until you receive the money you need to get your business moving.

As a small business owner, you will need a certain degree of fortitude. Be confident and proud of your venture. Let lenders know you are in control and know what’s best for you and your business. Understand that lending institutions need to make loans. But if you don’t get one, don’t get discouraged. Ask the lender why you didn’t get the small business loan. Learn from the answer, move on, and try other lenders.

The Women’s Venture Fund is a resource for women in business who need money and training to expand their venture for New York or New Jersey businesses. To learn more about the Women’s Venture Fund call 212-563-0499 or visit www.womensventurefund.org.

TYPES OF ASSISTANCE
Direct Loans; Guaranteed/Insured Loans.

USES AND USE RESTRICTIONS
Direct and guaranteed loans may be used to buy, build, or improve the applicant’s permanent residence. New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements. Under very limited circumstances, homes may be re-financed with direct loans. Dwellings financed must be modest, decent, safe, and sanitary. The value of a home financed with a direct loan may not exceed the area limit. The property must be located in an eligible rural area. Assistance is available in the States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana’s, and the Trust Territories of the Pacific Islands. Direct loans are made at the interest rate specified in RD Instruction 440.1, Exhibit B (available in any Rural Development local office), and are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent of the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an “effective interest rate” as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions. Guaranteed loans may be made to refinance either existing RHS Guaranteed Housing loans or RHS Section 502 Direct Housing loans. Guaranteed loans are amortized over 30 years. The interest rate is negotiated with the lender.

ELIGIBILITY REQUIREMENTS
Applicants must have very low-, low- or moderate incomes. Very low-income is defined as below 50 percent of the area median income (AMI), low-income is between 50 and 80 percent of AMI; moderate income is below 115 percent of AMI. Families must be without adequate housing, but able to afford the housing payments, including principal, interest, taxes, and insurance (PITI). Qualifying repayment ratios are 29 percent for PITI to 41 percent for total debt. In addition, applicants must be unable to obtain credit elsewhere, yet have an acceptable credit history.

INFORMATION CONTACTS
Regional or Local Office Consult your local telephone directory under United States Department of Agriculture for Rural Development field office number. If no listing, contact appropriate Rural Development State Office listed in Appendix IV of the Catalog or on the internet at http://www.rurdev.usda.gov/recd_map.html.

Headquarters Office Director, Single Family Housing Direct Loan Division or Director Single Family Housing Guaranteed Loan Division, Rural Housing Service (RHS), Department of Agriculture, Washington, DC 20250. Telephone: (202) 720-1474 (direct loans), (202) 720-1452 (guaranteed loans).