USDA loans are designed to allow you to buy, renovate, refinance or relocate your home when required. Though this program is basically similar for all regions but there are certain eligibility terms to qualify before applying for this easy USDA loan. It was specially designed to improve the home ownership conditions in rural areas. Even people living in urban areas can also avail this loan if they want to relocate in rural areas. It has made mortgage loans so easy that every one tends to avail it. Brief information about this loan and its eligibility terms is provided in their write up for your consideration.
Now, when the debts are mounting for you, one of the only options open to you is that of short-sale of your house. The transaction’s proceeds result in a lesser amount of money which is not suffice enough for paying off your debts, but which can be accepted as a settlement by the bank to whom the loan is owed. So, if you are actually planning to sell your house on short-sale basis to a family member, you can be warned. This is because banks normally do not allow family members to be involved in short sales of houses and property.