On May 31 NAR sent a letterthe Federal Housing Administration's Assistant Secretary for Housing and the Federal Housing Commissioner Julia Gordon. The thanks Commissioner Gordon for her efforts to support the nation’s housing market through the COVID-19 health pandemic. NAR supports the Department of Housing and Urban Development’s proposal (FR-6263-P-01) that would allow the Federal Housing Administration’s (FHA) to recast existing mortgages to terms of up to 480 months. This change provides the FHA with an important tool to help struggling homeowners and NAR fully supports efforts to support distressed owners and ameliorate negative impacts on them in the post pandemic environment.
NAR Letter to FHA Regarding 40 Year Modifications
Issue Date: May 31, 2022
Download the Letter