Question by Gray: Has anyone ever had USDA threaten to take your home if you do not refinance?
They’re doing this to me. I have made payments on my home on time for 17 years and now that I am coming close to the end of the mortgage and owe mostly principal, USDA is threatening to take the security (my home) if I do not refinance within 90 days. If I am unable to get a loan then I have to prove it with letters from lenders. I don’t want to start all over on a new loan. My credit is excellent because I pay all my bills on time
Answer by estielmo
Why do they want you to refinance?
Know better? Leave your own answer in the comments!
Their loan and their rules. Start looking for a good rate
Gray, something about this sounds fishy. I’ve never heard of that, is it a scam? Contact an attorney to sort this out ASAP.
The USDA would NOT do this. It is a scam.
You need to call the District Attorney’s office immediately and find out where the communication from is coming from.
Loans backed by USDA are just that…loans…if you pay them, you keep the property.
I have a feeling that someone is scamming you and you need to find out who it is.
That sounds crazy and it must be a new scam. Anyway who gets a loan from the food and drug administration? Contact the police and let them check it out first to see if it is legitimate.