March 1, 2020 — Letter

The U.S. Department of Housing and Urban Development’s Federal Housing Administration insures mortgage loans made by private lenders to encourage the lenders to make home loans to low- and moderate-income homeowners. Borrowers with FHA-insured mortgages who experience financial hardship during their mortgage term may be eligible for FHA’s loss mitigation program, which includes options, such as loan modifications, to enable them to save their homes.