04/22/2022
FHA adds 40-year mortgage modification option
Wednesday, April 20, 2022
The Federal Housing Administration (FHA) is adding a 40-year mortgage modification option for mortgage servicers to use in conjunction with its partial claim option to assist additional borrowers who are behind on their mortgage payments. Meanwhile, FHA has published a proposed rule to solicit public comments on an idea to allow servicers to provide a permanent 40-year term to its loss mitigation options.
