How to Stop Foreclosure on a Home With the USDA

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The USDA does not provide direct financing, so loans from the USDA are insured. Contact the conventional lender to renegotiate the terms of a mortgage with help from a civil mediator in this free video on foreclosure law.

Part of the Video Series: Foreclosure Help
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Video Transcript

You have a house and a mortgage that was financed initially with the USDA that is the United States Department of Agriculture. But you like a number of other Americans have fallen behind on your mortgage payments and now you are looking at foreclosure. Hello I'm Robert Todd and I'm here to answer the question how to stop a mortgage foreclosure with the USDA. Now first of all it's important to know that the USDA does not provide direct financing. So your loan if you went that route is guaranteed or insured by the USDA. And they offer assistance with government assistance programs and the like. But if you contact the local rural development office of the USDA and they can not provide government assistance to you to stop the foreclosure, we would recommend that you contact the conventional lender that holds the mortgage and see if you can renegotiate the terms and conditions of your conventional mortgage. Such as lowering the interest rate, extending the time period. If that doesn't work we would recommend considering alternative financing that is contacting another lender to see if you can refinance and pay off the mortgage with the proceeds of the refinance. I'm Robert Todd and thank you for watching.


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