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Avoiding Foreclosure on Federal Housing Administration (FHA) Mortgaged Properties

FHA-Insured Mortgages

According to CNN, increasingly, FHA-insured loans are falling into foreclosure or serious delinquency, moving in the opposite direction ofloans guaranteed by Fannie Mae and Freddie Mac or those held by banks,which are all showing signs of improvement.  Last year in 2012, the share of government-guaranteed loans, a majority of which are backed by FHA, that were 90 days or more delinquent soared nearly 27% during the year ending March 31.Foreclosures jumped nearly 17%, according to a report published recently by federal regulators.  The Office of the Comptroller of the Currency said FHA has also had a tougher time successfully modifying loans. More than 48% of government-guaranteed mortgages re-defaulted 12 months after modification, compared to 36.2% of loans overall.

Help is available for homeowners facing foreclosure that have mortgages backed by FHA.  The Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD), is working aggressively to halt and reverse the losses represented by foreclosure. Through its National Servicing Center (NSC), FHA offers a number of various loss mitigation programs and informational resources to assist FHA-insured homeowners and home equity conversion mortgage (HECM) borrowers facing financial hardship or unemployment and whose mortgage is either in default or at risk of default.

  • Click Here to log onto the NSC Loss Mitigation Programs home page.
  • Click Here for answers to Frequently Asked Questions about FHA’s loss mitigation programs.

CONTACT FHA

FHA staff are available to help answer your questions and assist you to better understand your options as an FHA borrower under these loss mitigation programs. There are several ways you can contact FHA for more information, including:

  • Call the NSC at (877) 622-8525
  • Call the FHA Outreach Center at 1-800-CALL FHA (800-225-5342)
  • Persons with hearing or speech impairments may access this number via TTY by calling the Federal Information Relay Service at (800) 877-8339.
  • This email address is being protected from spambots. You need JavaScript enabled to view it.
  • The Online FHA Resource Center
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Sandcastle Dreams Realty
211 Chateaugay Fort Walton Beach, FL 32548
Phone: 850-240-4669 Website: www.sandcastledreaming.com