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Guidelines for Loss Mitigation
FYI—Guidelines for the loss mitigation options which are available on government backed loans are public information—available on the internet. Whether you have an FHA, VA, USDA, Fannie Mae or Freddie Mac loan, the regulations which determine what options are available and the factors which need to be considered for each are hidden in plain sight—on the web.
I’m telling you they are there—I am not saying they are easy to find or easy to understand. Nor am I saying that lenders/servicers abide by them even half the time. Do the research, get some clarity and figure out what YOU think will work for you.
The most important thing is to know that they exist and where to find them.
FHA loans: We recommend Mortgagee Letters 00-05 and 08-43 (Click here to go to a page with a listing of HUD's mortgagee letters.
(Please e-mail Heather at homeownershipmatters@gmail.com with any questions, comments or concerns you might have. We appreciate all feedback, comments, and especially your questions. Don't be shy!)
I’m telling you they are there—I am not saying they are easy to find or easy to understand. Nor am I saying that lenders/servicers abide by them even half the time. Do the research, get some clarity and figure out what YOU think will work for you.
The most important thing is to know that they exist and where to find them.
FHA loans: We recommend Mortgagee Letters 00-05 and 08-43 (Click here to go to a page with a listing of HUD's mortgagee letters.
(Please e-mail Heather at homeownershipmatters@gmail.com with any questions, comments or concerns you might have. We appreciate all feedback, comments, and especially your questions. Don't be shy!)
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