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 ...

The Federal Housing Administration wants to allow mortgages to extend to 40-year terms. The federal agency suggests the move would protect borrowers against default if they had lower monthly payments.

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input.

The Federal Housing Administration (FHA) announced this week that a final rule related to an increased 40-year loan modification term has been published in the Federal Register. The rule allows ...

The Federal Housing Administration announced it's increasing term options to include a 40-year mortgage in May. In March, the U.S. Department of Housing and Urban Development published a final rule ...

The U.S. Department of Housing and Urban Development (HUD) recently issued a final rule extending the maximum term of an FHA loan modification from 30 to 40 years. The rule is effective May 8, 2023.

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 ...

If you’re seeking more affordable mortgage payments, a loan modification or a refinance could both help. Loan modifications are for homeowners experiencing financial hardship who are unable to make ...

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 ...

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 Mortgage Bankers Association (MBA)/1 and Housing Policy Council /2 appreciate the opportunity to respond to the Department of Housing and Urban Development's (HUD) proposal amending HUD regulation ...

If you’re a first-time homebuyer who hasn't saved enough to make a large down payment or are concerned you might not qualify for a conventional home loan, a Federal Housing Administration (FHA) loan ...