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Modify Real Estate Proposal

Modify Real Estate Proposal

Aug 6th, 2022

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How to Modify Real Estate Proposal

4.5 out of 5

2 votes

In this housing market update, Jason Walter discusses the Federal Housing Administration's (FHA) proposal for a new 40-year mortgage loan modification. The FHA is looking to expand its loss mitigation plan by introducing this option and is seeking input from the mortgage industry. The proposed rule, which is not yet finalized, was published by the Department of Housing and Urban Development. It aims to change repayment provisions for FHA borrowers, enabling lenders to recast a borrower's total unpaid loan. Walter highlights the bill details and implications for borrowers, emphasizing the need for further discussion within the mortgage sector.

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