WASHINGTON, DC – November 21, 2012 – (RealEstateRama) — The Federal Housing Administration (FHA) announced changes on Friday to its loss mitigation program which are intended to allow more borrowers to take advantage of opportunities that enable them to keep their homes. Through revisions made to FHA’s Loss Mitigation Home Retention Options, a greater number of distressed borrowers will be able to qualify for FHA loss mitigation interventions, and the level of assistance available to them will be larger than under previous guidelines. These changes will not only assist families in keeping their homes, but will also reduce the number of full claims against the FHA Mutual Mortgage Insurance Fund
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