FHA beefs up foreclosure prevention initiatives

SOURCE: Mortgage News Feed

The U.S. Department of Housing & Urban Development and Federal Housing Administration have announced significant changes to its Distressed Asset Stabilization Program. Loan servicers will now be required to delay foreclosure for a year and to evaluate all borrowers for the Home Affordable Modification Program or a similar loss mitigation program.

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http://www.housingwire.com/articles/33674-fha-beefs-up-foreclosure-prevention-initiatives


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