Asked by ChelseaMcV2, Sumner, WA • Sun Aug 26, 2012
I am approved for a USDA loan and aware of the rural area requirements but the agent I've spoken to has alluded to the fact that a short sale on a USDA loan is nearly impossible. I was also told by the loan officer that it was "rumored" that several areas I'm interested in are going to be no longer considered USDA rural areas as of Oct 1st. Does this mean the long duration of purchasing a short sale would push the transaction so far into the future that this is what would render a short sale something impossible?
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