FHA extends covid 19 era loss mitigation offerings and expands foreclosure protections to all high risk borrowers.
(FHA) announced in Mortgagee Letter 2023-02 that it is expanding loss mitigation options created during the COVID-19 pandemic to help all homeowners with FHA loans avoid foreclosure.
Per Julia Gordon: “FHA’s COVID-19 forbearances and streamlined COVID-19 loss mitigation options have successfully helped millions of struggling borrowers in the last two fiscal years alone. Our action today lets us capitalize on what we have learned through the pandemic to continue helping borrowers avoid foreclosure, regardless of the nature of their hardship.”
The changes are effective through October 30, 2024:
NEED HELP WITH YOUR FHA MORTGAGE DEFAULT?
FHA Covid 19 loss mitigation options are similar to standard FHA loss mitigation options, but with looser regulations. There's never been an easier time to resolve your FHA loan default, or to do a short sale with FHA!
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Last Updated on March 22, 2023 by Minna Reid