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MHA’s Home Affordable Unemployment Program (UP)

FHA Extends Forbearance Terms for the Unemployed

Unemployed Newspaper Pic

The Obama Administration has announced adjustments to Federal Housing Administration (FHA) requirements that will require servicers to extend the forbearance period for unemployed homeowners to 12 months. The Administration also intends to require servicers participating in the Making Home Affordable Program (MHA) to extend the minimum forbearance period to 12 months wherever possible under regulator and investor guidelines. These adjustments will provide much needed assistance for unemployed homeowners trying to stay in their homes while seeking re-employment.Click to continue