WASHINGTON, DC – November 29, 2012 – (RealEstateRama) — The Federal Housing Administration (FHA) recently published guidance to help families with FHA-insured mortgages struggling to repair or rebuild their homes in the wake of major disasters like Hurricane Sandy. FHA’s mortgagee letter reinforces the agency’s longstanding policy of extending foreclosure relief and directs lenders to release insurance proceeds to borrowers rather than to apply those payouts to bring delinquent mortgages current.
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