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The US Department of Agriculture (USDA) began giving out since July 7 up to $1.15 billion worth of advanced direct payments to qualified farmers for the 2008 crop year. Farm producers who are hard-hit economically should consider signing up for the USDA’s Direct and Counter-Cyclical Payment program (DCP), which the 2008 Farm Bill re-authorized to better serve American farmers’ needs.

The money given to these farmers represents the advanced payments that they could request when they enrolled in the DCP program, which began last June 25. Producers can even opt to receive a 22 percent advanced payment when enrolled in the DCP.

Direct payments are cash payments given to qualified individuals who are in need of services, in place of social service provisions. Direct payment rates are fixed and are prescribed by law. Counter-cyclical payments, on the other hand, are designed to provide support when prices of commodities fall below prices set by the law.

Agricultural economists see these direct payments as a great boost to farmers who are set back by increasingly steep prices of agricultural supplies like fertilizers, seeds and other farm needs, the ever-rising cost of fuel, and the declining dollar.

To qualify, farms must have have base acres set up for barley, corn, sorghum, oats, canola, crambe, flaxseed, mustard seed, rapeseed, safflower, sesame seed, sunflower seed, peanuts, rice, soybeans, upland cotton, and wheat. The base acres are established using the historical plantings of those crops on the farm.

The DCP program, which provides direct and counter-cyclical payments to eligible producers who annually enroll their farms in the program, was first authorized in 2002.

Something pleasant is waiting in the mail for many American families this week! For a change, aside from the usual dreaded utility bills and other payables, many will receive welcome news from the Federal Housing Administration (FHA) of the U.S. Department of Housing and Urban Development (HUD). The FHA has started resending direct mailers that offer a lifeline to families whose homes are in danger of foreclosure.

Direct mailers were first sent out in February to 280,000 recipients. During this second phase of the campaign, FHA has already distributed letters to 675,000 households. These letters present the average American family an opportunity to save their homes from foreclosure via low-cost mortgage alternatives.

Mortgage problems are common to homeowners. The negative effect brought about by “sub prime loans”, which come at higher rates, raised concerns as foreclosure rates increased during the recent months, prompting the FHA to think of ways to help homeowners deal with the mounting costs of keeping their homes.

And the housing crisis may just get worse with lenders losing much money and homes facing foreclosure. In fact, according to a recent study by First American Corp. of Sta. Ana, the United States will experience about 1.1 million foreclosures in the next six to seven years on adjustable-rate mortgages.

Families who are currently going through mortgage problems, as well as those who have already experienced them, are the recipients of the letters from FHA. These encourage families to consider switching to more affordable mortgage alternatives offered by the FHA.

FHA loans are guaranteed by the government and make lower and more affordable mortgage interest rates possible. Mortgages backed by the FHA are 30-year, fixed rate products so borrowers would not find it too difficult to keep up with payments. FHA also offers its FHASecure program that helps delinquent loan payers refinance with the FHA, which saves the payer an average of $400 savings per month.

HUD Secretary Steve Preston emphasizes how these may just very well be the most important letters distressed families will ever receive.

“This information could not only help save their current home, it could help provide them with long term financial security. This outreach campaign will ensure families are aware of the safe mortgage alternative offered by FHA,” he states.

The FHA has continually looked for ways to ease up the problems brought by the mortgage crisis. During the recent months, it has coordinated with various loan service providers to come up with solutions for this serious concern. It has opened a hotline that people can contact if they are experiencing troubles due to mortgage reset or any housing-related problems: 1 (800) CALL FHA.

People can also visit their official website at www.fha.gov to learn more about any housing assistance they could get, and to find answers regarding foreclosure prevention, legal rights, credit counseling, etc.

WASHINGTON – People living in disaster areas declared by the Federal government can now breathe a sigh of relief after the Internal Revenue Service extended the deadline for quarterly estimated tax payments.

The IRS moved the deadline as a courtesy to calamity victims who live in the 10 declared states and who already have a lot to worry about besides paying their taxes.

“Our hearts go out to the flood victims in the stricken states. At a time like this, taxes should be the last thing on the minds of these unfortunate victims,” says Doug Shulman, IRS Commissioner.

The tax relief applies to all residents of presidential disaster areas and to people who have businesses established in these places. Also covered by the extension are those whose tax professional’s offices, books, and records are located in the affected counties. The IRS also postponed the filing of tax returns as well as cancelled penalties for those who failed to pay their employment and excise deposits.

Storm victims can now fully concentrate on rebuilding their lives, restore their homes and businesses, and get back on track without having to agonize about missing tax payment deadlines.

Dates for the extended deadline vary in different states:

• Arkansas – July 21
• Colorado – July 25
• Georgia – July 22
• Indiana – August 7
• Iowa – July 28
• Maine – July 8
• Mississippi – July 28
• Missouri – July 22
• Oklahoma – July 14
• Wisconsin - August 13

The agency’s computer system automatically identifies and applies tax relief to all taxpayers covered by the disaster areas.