USDA RD Loan

I have been trying to finish paying off my home loan for months. I've been told to wait for a recapture letter which they say now they sent, never received anything. I am to wait for an appraisal from them. Been waiting for over six months. They say not to pay anymore, just wait. I am scared to death with all the waiting. Now they say it may be a year before I hear anything. This is just stupid.

USDA RD Loan is a great site to get information about USDA home loans and rural development Loans. What i found that they are expert in this. In site, they clearly explain what is USDA Loan? How to get this? What is eligibility? Everything is in their site. Must recommend site.

Warning a USDA RD Direct mortgage is a joke! The problem is there is absolutely no guidelines for processing the loan unlike the USDA RD mortgage. The problem for me started after the inspection yes I was looking at an older home with a solid dry concrete foundation and basement. The inspector found two major issues that needed to be addressed plumbing and electrical. The problem with plumbing was resolved by the owner who was required to remove the galvanized pipe (all the pipe) and they replace all pipe and fixtures. The electrical work was bid on by a contractor and was to replace and bury the feeder line to the home and replace an outdated fuse box. The fuse box was not capable of being brought to code since it was incapable of supporting Arc Fault Interrupts and GFI's.

Now the problem USDA ordered an appraisal which came in at bid price. I was not allowed to see the appraisal, despite request, and immediately called for a review and lost. In the meantime my US Senator's office managed to get me a copy of the appraisal. What I found was that USDA RD did not even get the specifics of the home correct. They also failed to consider the repairs and any value added by replacing the entire plumbing system and electrical system. USDA RD took the position that these repairs were nothing but maintenance and add no value to the home; contrary to the clear guidelines for a USDA RD mortgage. I appealed the appraisal to ALJ and won. The court sent the case back to USDA who then sat on it for two months and would not give either my realtor or me any information as to what was going on. Due to their actions; the seller after being patient for seven months lost faith and dropped out of the deal; since, both me and my realtor had no idea what they were doing. I was forced to spend $800 for the inspection and about the same in fuel costs trying to get a bid from a contractor. The problem is the word is out on these loans much like VA loans and contractors are refusing to bid on these loans. The reason is they are nothing more than a waste of time for them since they rarely ever get the work. Most contractors simply refused to bid or even consider; others would not bid for less than $1,000. I wasted seven plus months spent almost $2k and ended up with no home.

I was shopping for a mortgage and found this site. It was VERY informative and helpful.
I spent about 3 weeks looking for information on this type of loan and found everything I need here

So USDA advertises grants and loans for low income people for home improvement. But when you call and try to get such a loan there is more red tape then if you walked into a regular bank. The program is supposed to be government funded. Which probably has the objective to help low income people. But you wouldn't think that was the case when you speak to a USDA representative. I was trying to apply for a loan to provide heat in my house and you would have thought I was asking for a swimming pool or some other luxury item. Hope they get investigated by the government because the money isn't going where it is suppose to.

Sold my house in 2017, then this same house was sold 2 more times in 2018. I have proof of all this. Yet, as of November 2021, on my credit report it says that I still own the house and that it's now in Foreclosure. I also got mail today stating that USDA had to buy hazard ins and added it to my mortgage loan account to the tune of $938.05. I sent in proof of the house being sold all 3x. As well as sent in other necessary proof. Called the Foreclosure number and after a week still have heard nothing. Sent the paperwork overnight mail and had that it needed to be signed. DO NOT EVER USE THIS COMPANY!

They had a glitch in their sysyem, I kept receiving late notices on my mortgage (it was paid up to date) they got as far as 5k+ behind with payments it said. I called them multiple times and they reassured me that i was paid to date and it was their system. Then I got reported for being over 45 days late on payments. Dropped my credit score 73 points. 6 months later they finally get it figured out and remove it from my credit, but the damage still remained to my credit. Worst part was a year later i actually did forget to pay it one month and didnt receive a notification. They reported me again instead of giving me a pass for messing it up last time, so now my credit is down over 130 points thanks to these p. O. s. I dont reccomend

I have lived in a USDA Rural Development home for 18 yrs in Wasilla Alaska and I am disappointed due to the fact, I now have had 3 loan officers helping me including Nancy Garza which now makes the 4th one who is Wylie Chandler. My refinancing has been going on for 13 months because of all these delays which I am hoping will soon be over. Payments always have been to high. Hoping things will get resolved soon. USDA will take ur taxes and any money if ur behind on payments. Very disappointed with their service….