Helping FHA Borrowers Facing Imminent Default
Here is the mortgagee letter from FHA. Click on the link below to read it in it’s entirety.
“FHA defines an “FHA borrower facing imminent default” to be an FHA borrower that is current or less than 30 days past due on the mortgage obligation and is experiencing a significant reduction in income or some other hardship that will prevent him or her from making the next required payment on the mortgage during the month that it is due. The borrower must be able to document the cause of the imminent default which may include, but is not limited to, one or more of the following types of hardship……”