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Home » Store » News » HUD Requires Speedy Action on Borrowers in ‘Imminent Default’

HUD Requires Speedy Action on Borrowers in ‘Imminent Default’

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There will be limited loss mitigation options for borrowers facing imminent default under recent guidance issued by the Department of Housing and Urban Development. Effective Jan. 22, servicers of FHA-insured loans may use forbearance and the FHA-Home Affordable Modification Program in helping borrowers in imminent default avoid foreclosure. The guidance in Mortgagee...
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