FHA Announces Intention to Extend Borrower Refinancing Program
On October 1, the Federal Housing Administration (FHA) released INFO message #14-60, discussing its plan to extend the “FHA Refinances of Borrowers in Negative Equity Positions” program.
FHA INFO #14-60
October 1, 2014
FHA SINGLE FAMILY HOUSING NEWS
NEWS AND UPDATES
TO: All FHA-Approved Mortgagees
Intent to Extend FHA Refinances of Borrowers in Negative Equity Positions
The Department of Housing and Urban Development (HUD) is aware that the “FHA Refinances of Borrowers in Negative Equity Positions” program authorized by Mortgagee Letter (ML) 2010-23 is due to expire on December 31, 2014. This program supports refinances for borrowers who owe more than the current value of their home and plays an important role in helping to realign property values and mortgage obligations for sustainable long-term homeownership. It is currently the intention of the Department to offer an extension of that program. A Mortgagee Letter extending the program and announcing any program changes will be issued at a later date.
- Call the FHA Resource Center at 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Information Relay Service at 1-800-877-8339.
- Email the FHA Resource Center at firstname.lastname@example.org. Emails and phone messages will be responded to during normal hours of operation, 8:00 a.m. to 8:00 p.m., ET, Monday through Friday on all non-Federal holidays.
- Visit our online resource information at www.hud.gov/answers.
Please click here to view the INFO message online.
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