Listen Now!  (2:08 Minutes)
Presented
By		   

Additional Features		 

Mortgage help programs available for FHA borrowers -

Published on Friday, January 22, 2010
By LESLIE BERKMAN


The FHA on Friday informed the lending industry that starting immediately they can use the agency's mortgage modification and forbearance programs to assist FHA borrowers facing hardship before they miss a mortgage payment.

While the federal government and lending industry for two years have urged those at risk of falling behind on their mortgages to contact their loan servicers, many borrowers complain that their loan servicers tell them that they must be seriously delinquent before they can get help.

The FHA said in its efforts to reduce its mortgage losses by averting foreclosures, it is putting a new focus on borrowers who are current or less than 30 days past due on their mortgage but experiencing a significant loss of income or other hardship.

"This is a positive step for the FHA and hopefully will have an effect on the whole industry," said Kevin Stein, associate director of the California Reinvestment Coalition   Read Full Article...

 
 

Comment/Review this Podcast:

 

Give us your feedback

Press-Enterprise is interested in hearing what you think about our Podcasts. You can give us your feedback by filling out our Audience Survey or email us directly at pe@shortcutlink.com.