Foreclosure/Loss Mitigation Options/Covid-19
Updated: Jul 8
The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2020-22, FHA’s COVID-19 Loss Mitigation Options. This document announces an expansion of loss mitigation options that are available to assist single family borrowers with FHA-insured mortgages impacted by the COVID-19 National Emergency. It also updates the guidance for mortgages outlined in ML 2020-06. Read the Press Release.
The National Consumer Law Center recently released an excellent chart summarizing the options available to people facing foreclosures or mortgage arrearages as a result of the coronavirus and Covid-19 pandemic. The chart is very helpful and has links to resources that may help.
Click on this link to see the chart.