St Louis Loan and Mortgage Refinancing: One In Seven On Food Stamps
St Louis Mortgage and Real Estate News –
St Louis Mortgage Lending and Loan Reduction News: 1 In 7 Using and Benefiting from Food Stamps
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Consultant
The number of food stamp recipients increased 16 percent over last year.
This means that 14 percent of the population is now living on food stamps which equates to approximately 43 million people, or about one out of every seven Americans.
In some states, like Mississippi, New
Mexico, Oregon and Tennessee, one in five people are receiving food stamps.
The nation's capitol, Washington, D.C. leads the country, with 21.5 percent of the population on food stamps.
But it's not just the nation's stubbornly high unemployment rate of 9.8 percent that's driving the increase in food stamp use.
Some states are expanding their definitions of poverty to include more people.
At the same time, the 2009 American Recovery and Reinvestment Act boosted annual funding to the nationwide food stamp program, known as the Supplemental Nutrition Assistance Program, by $10 billion.
The average recipient receives $133 in food stamps per month, according to the U.S. Department of Agriculture.
That amount varies from state to state. For example, in Hawaii the average is $216, while it's $116 in Wisconsin.
But the Recovery Act funding increased the maximum food stamp benefit by 13.6 percent, which translates to about $20-24 dollars per person per month.
The U.S. government considers food stamps to be effective stimulus for the economy, because the recipients usually spend them right away.
Idaho saw the biggest increase in its food stamp program, with a spike of 39 percent compared to last year, followed by Nevada, at 29 percent, and New Jersey, at 27 percent.
The government is also beefing up unemployment benefits.
The unemployed will get a 13-month extension to file for additional unemployment benefits, which can last as long as 99 weeks in states hit hardest by job loss.
As the job market continues to dog the economy, the increase in food stamp funding is set to remain in place for nearly three years.
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Articles and News Sponsored by Liberty Lending Consultants
When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.
Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available. Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan.
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