FHA Options

[adanv]

Can someone please give me some advice who has an FHA Loan as to what options we have with this loan? I am currently one month behind and will likely fall to 2 payments this month. Every time I call Citi I am told that there are no options for FHA. My home is not worth what I bought it for 4 years ago, there has to be an option(s) for FHA Loans that are underwater???

I did a home modification loan 2 years ago, when would I be eligible for another home modification loan? Just looking to get current with my payments as things financially are turning around for the better, just got behind and need some help... Anyone??

Thanks

AV

[Cat Damiano]

Hi adanv,


Here are your options for FHA;

FHA-Insured Mortgages

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) borrowersfacing 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.
• Email the FHA Resource Center
• The Online FHA Resource Center