Unemployed FHA Borrowers In Rhode Island To Get Twelve Months Of Forebearance.

On July 21, 2011, in Tips And Advice, by Lynda Mckenzie

Unemployed FHA borrowers in Rhode Island just got a break.  Effective August 1, 2011, and continuing for two years, loan servicers collecting payments on FHA-insured mortgage loans will be required to allow qualified borrowers who lose their jobs to miss up to 12 months of mortgage payments  before initiating foreclosure proceedings against them.  Under the old [...]