The Federal Housing Administration (FHA) is working to expand the COVID-19 loss mitigation program to include the option of a 40-year loan modification with a partial claim, an acknowledgement that ...

FHA first proposed the 40-year loan modification on April 1. The new option is intended to help borrowers who can’t achieve a minimum targeted 25% reduction in the principal and interest (P&I) portion ...

Loan modifications are a long-term mortgage relief option for borrowers experiencing financial hardship, such as loss of income due to illness. A modification typically changes the loan’s rate, term ...

The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification ...

Discover the benefits and drawbacks of loan modification programs, eligibility requirements, and alternatives for struggling ...

American Bar Association’s Business Law Today March Month-In-Brief: Business Regulation & Regulated Industries - April 2023. On March 8, 2023, the Department of Housing and Urban Development (HUD) ...

The people struggling with huge debts and financial hardships can make use of the loan modification programs intended to support such individuals. The hopes of the homeowners who struggle to avoid ...

A mortgage loan modification can offer an opportunity for borrowers to get their monthly payment on their mortgage reduced to an amount they can afford. A mortgage loan modification may extend the ...

Homeowner Toolbox Inc. is helping homeowners wade through the complexities associated with the loan modification process and teaches users how to avoid the roadblocks that prevent consumers from ...

I believe some of the biggest problems with short sales today fall into the hands of the agent processing the file. Submitting a complete package initially is key. All documents need to be current!