Posted on: 27th Jun, 2011 06:57 pm
my husband and i acquired a home through fha (now usda-rd/scs) and we have about 5 more years worth of payments to make. now usda-rd have requested that we refinance with a new lender. we do not want to refinance because we do not want to borrow any money or have years added to pay it off. we are not behind on our payments so why request us to refinance when we are so close to paying it off? :? :x
How was the request made to you? I don't have any particular expertise in these loan programs (save for straight FHA), but I find it awfully peculiar that you'd be requested to refinance with a scant 5 years remaining on your original loan.
Did you do something to annoy somebody in the USDA? Is this simply a ploy to get you to sweeten some loan officer's coffers by paying for a refinance that you don't really need (or want)? Did you somehow acquire the one and only sub-prime USDA mortgage that conforms with all the ghastly programs that sub-prime mortgages represent?
Those are some profoundly ridiculous scenarios that I've laid out - other than the greedy loan officer one - but I also find it profoundly ridiculous that you'd be asked to refinance at this late stage in the game by any reputable lender.
Did you do something to annoy somebody in the USDA? Is this simply a ploy to get you to sweeten some loan officer's coffers by paying for a refinance that you don't really need (or want)? Did you somehow acquire the one and only sub-prime USDA mortgage that conforms with all the ghastly programs that sub-prime mortgages represent?
Those are some profoundly ridiculous scenarios that I've laid out - other than the greedy loan officer one - but I also find it profoundly ridiculous that you'd be asked to refinance at this late stage in the game by any reputable lender.
>>Now USDA-RD have requested that we refinance with a new lender.
The USDA doesn't do that. I feel you have a deceptive advertisement.
The USDA doesn't do that. I feel you have a deceptive advertisement.
I'm glad you stumbled upon this one, Raymond. We all get these ludicrous come-ons that promise "relief" from our heinous loans perpetrated by those scoundrel lenders. If only everyone could recognize how dastardly these profiteers who solicit them really are.