The U.S. Department of Agriculture (USDA) has been sponsoring a home loan program designed to help families with low incomes to buy homes in rural areas. Evidently, the program has been abused by some, including people who used the funds to acquire a tropical paradise home in Hawaii.
Over 100 cases of individuals or families received USDA loans for $500,000 or to purchase homes in Hawaii. If the home “buyers” cannot afford their new homes down the road, the federal government steps in and pays off up to 90% of the loan.
If you want the U.S. government to stop buying homes in Hawaii for the rich, Like and Share this post.
