Tuesday, October 15, 2013

Affected by Government Shutdown?

If you're directly affected by the ridiculous government shutdown that Congress has foisted upon the country and are facing possible default on your mortgage, there's good news for you from the FHA. The FHA, following similar actions by the VA and both Freddie Mac and Fannie Mae, has asked all of its lending partners to "take all reasonable steps" to help borrowers avoid defaults due being 'furloughed' (isn't that a great word instead of laid off or fired) or having work time cut as part of their being federal government employees affected by the current government shutdown. They have also asked that late fees and other penalties for non-payment or late payments be waived for the duration of the shutdown. Any questions: get in touch with FHA. Their web site is: www.HUD.gov. As always, good luck.

No comments: