The Wall Street Journal gave the U.S. Department of Agriculture’s Rural Housing Service somewhat of a reputation for being a strict debt collector when mortgages go sour.
The agency maintains the authority to seize social security payments, tax refunds and even payments after foreclosure. But it seems, the USDA is changing its tune a bit when dealing with mortgages.
A year after the WSJ first reported on the strict mortgage collection efforts of the USDA, the agency is reportedly pulling back a bit when trying to collect money from homeowners that have fallen into foreclosure.
The WSJ reported the change this week. It's the paper's second look at how USDA debt collection practices vary from the average servicing firm.