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More COVID Tools: FHA Seeks Feedback on 40-Year Loan Modification
Inside Mortgage Finance, Sept. 28, 2021–Monica Hogan
FHA on Monday afternoon said it is taking public comments on a proposal to add a 40-year loan modification option combined with a partial claim as part of its COVID-19 recovery loss mitigation toolbox. The goal: to help borrowers facing economic hardship during the pandemic reach a 25% reduction in monthly principal and interest on their mortgage payments.
https://www.insidemortgagefinance.com/articles/222560-fha-seeks-feedback-on-40-year-loan-modification