Need to close by the 19th still no word from RD

[Anonymous]

My LO sent in our file this past Monday thinking that there would be a 48-72 hours turn around time.

Well it's been almost a week later and still no word from RD and we need to close by the 19th or the short sale deal is off.

Needless to say I'm begining to get nervous.

I've tried to get a time frame from RD but haven't been successful.  

Does anyone have any idea how long it is taking RD to approve loans in New England or Maine for that matter?

[Anonymous]

 Someone must have some information that would help.

[buyhouse36]

I think the RD folks have all disappeared. I am also "stranded" by RD running out of funds and have posted several questions about what others are doing. NOT ONE REPLY!!!

We have decided to jump to FHA with a state sponsored down payment program. But I would love to know what others are doing. Are they waitting it out??? Change lenders?? What??

[Anonymous]

I'm sorry to hear you're in a similar situation.   I too, have thought about switching to FHA but too be honest it would end up being more expensive for me.

I do know that some lenders and this includes some USDA RD offices are accepting indivdual files but won't process them until SB 4899 has been signed by President Obama.     I believe this is one of the reasons why congress wants to extend the first time homebuyers tax credit as many of them won't qualify due to the delays.

I'm hopeful something will happen soon.

[Anonymous]

 This website has been really helpful but I also found another one that may help answer some of your questions. I notice there where some others from the Maine

around on there and they had some updates . Heres the link

http://www.washingtonwatch.com/bills/show/111_HR_5017.html?page=5#commentform

 I hope this helps.

[Anonymous]

@ buyhouse36

From what I've been reading its about 50-50

Some switch and others (like myself) are waiting it out because we don't have the extra  money for a down payment if we go FHA

[Anonymous]

Update:  Just spoke with someone at my local RD office who informed me that my file had been processed and sent back to my lender.

When I mentioned this to my LO she had no idea but was going to investigate further so hopefully the end is in sight!