May 4, 2012
At the FHA official site, there is a page titled Avoiding Foreclosure. This page has a list of special programs and information on helping FHA borrowers avoid loan default and foreclosure. One such program is aimed at homeowners with qualifying FHA guaranteed mortgages who have lost their jobs.
The program known as the FHA Special Forbearance Program was announced in July, 2011 and requires lenders to “extend the forbearance period for unemployed homeowners to 12 months. The changes to FHA
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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