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Sathed

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USDA Rural Housing Foreclosure

My wife and I are looking at a house (short sale) that has a couple mortgages on it, both of which are USDA rural housing loans. The second lender doesn't want to take anything less than 100% of the total amount of the loan. If it goes to foreclosure, will the second lender be wiped out like a normal FHA lender? Or will the second lender still have the ability to go after the previous homeowner for the balance of the loan?

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