FHA Asks Lenders to Protect Borrowers Affected by Shutdown
HUD Press Release
October 22, 2013
Photo by Leo Leung
The Federal Housing Administration (FHA) is proactively announcing a plan of action which copes to cope with the financial hardships of those affected by the government shutdown whether it be by furlough, layoff or income decrease. FHA is requesting that lenders take into consideration the financial hardships experienced by these borrowers by extending forbearance plans, offering loss mitigation options, waiving late fees and avoiding filing negative credit reporting. FHA has united their message with Fannie Mae, Freddie Mac and the Veteran’s Administration to protect borrowers. More...