Kentucky woman chooses to file for bankruptcy to save home after husband's death froze mortgage payments
Nearly 360,000 foreclosure filings were reported last year — up 10% from 2022.
Source: yahoo.com
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Foreclosures are rising, but it's not yet alarming
The foreclosure situation is not as serious as what we've seen in the past, since some mitigating circumstances are preventing a crisis.
Source: housingwire.com
US FHA Introduces Payment Supplement Loss Mitigation Option | Mayer Brown
In an effort to help struggling borrowers stay in their homes, the US Department of Housing and Urban Development’s (“HUD” or “Department”) Federal Housing Administration (“FHA”)...
Source: jdsupra.com
FHA Seeks Additional Feedback on New Loss Mitigation Option for Struggling Borrowers | Bradley Arant Boult Cummings LLP
On November 16, 2023, in response to comments received on a prior draft Mortgagee Letter (ML) related to a Proposed Payment Supplement Partial Claim, the Federal Housing Administration...
Source: jdsupra.com
MBA, NMSA suggest fixes to FHA's proposed loss mitigation option
Trade groups including the MBA and NMSA submitted a letter to FHA designed to improve its "payment supplement" loss mitigation proposal.
Source: housingwire.com