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Fha "short Pay" Loans

FHA "Short Pay" Loans

A key committee in the House of Representatives late Thursday passed legislation that would make up to $300 billion in federally insured mortgages available to borrowers facing foreclosure. The bill, H.R. 5830, the Federal Housing Administration (FHA) Housing and Homeowner Retention Act was passed out of the House Financial Services Committee and on to the full house by a bipartisan vote of 46 to 21.
Ref. https://www.mortgagenewsdaily.com/522008_FH...t_Pay_Loans.asp

Loans Payquot quotshort Fha

I think this may be some good news to those who are facing the prospect of losing their homes. I hope that lenders do try this program that is backed by the government to help people get their feet back under them.