Tag Archives: hud

HUD – FHA SPECIAL FORBEARANCE INITIATIVE

HUD’s Special Forbearance Initiative will permit lenders of Federal Housing Administration (FHA) insured mortgages to assist creditworthy borrowers who are behind in making mortgage payments because they are temporarily unemployed. Continue reading

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REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 (RESPA)

REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974 (RESPA) was enacted to further the national housing goal of encouraging home ownership by regulating certain lending practices, closings and settlement procedures in federally related mortgage transactions to the end that unnecessary costs and difficulties of purchasing housing are minimized. Main purpose being the regulation of mortgage servicers and the way they behave towards home owners. Continue reading

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