Industry supports FHA’s 40-year loan term option — with caveats
Housing Wire
JUNE 6, 2022
A 30-year loan mod option limits the amount of interest paid and helps borrowers accumulate equity in their homes more quickly, the groups said in the letter. The two trade groups said the 360-month loan modification option should be the bedrock of FHA’s loss mitigation menu. But it’s not just a benefit to borrowers.
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