Trial Payment Plan May Be Required Before Modification, Partial Claim On Delinquent FHA Home Loans

摘要

Certain homeowners with delinquent FHA-insured mortgages must complete a trial payment plan before the mortgagee can execute a loan modification or partial insurance claim action under the FHA loss mitigation program, according to Mortgagee Letter 2011-28, which was issued on August 15. HUD has also set time requirements for mortgagees to complete permanent loan modification and partial claim documents in order to receive an incentive fee.