What is the statute of limitations on a federally backed home loan?

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I defaulted on a federally backed (FHA) loan in 1997. The house was sold and I assumed the bank got their money. A collection agency called today on behalf of the USDA, and told me that I owed the difference from the sale plus interest. This is the first that I heard of this in almost ten years, and I figured that if I owed the govt, they would have tracked me through my tax returns and contacted me directly if some sort of limitation has not expired…

2 comments to What is the statute of limitations on a federally backed home loan?

  • Elite female  says:

    Not sure read smoe tips on loans on this site

  • Dutch Master  says:

    There is no statue of limitations on a default payment issued by the government . You defaulted and now you are going to get whacked with fees , interest , and the difference in what your house was sold for . Ouch . Will e-mail you some K-Y jelly cause they will come after you and burn you for the whole thing . Your credit report has got to be hurting too .

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