Industry supports FHA’s 40-year loan term option — with caveats
Housing Wire
JUNE 6, 2022
Smith said in the first quarter of 2022, 9.58% of FHA’s borrowers were in some stage of delinquency and this new tool will “help these borrowers sustain homeownership or help ease their transition.”. The two trade groups said the 360-month loan modification option should be the bedrock of FHA’s loss mitigation menu.
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