Doing the Right Thing is Always Right The FHA is offering hurricane victims with FHA-insured mortgages to defer 12 months of payments [story]. The payments would be made as an interest-free loans that is not due until the mortgage is paid off. The money will be taken from the FHA insurance reserves that are funded by premiums. This program could help up to 20,000 people that qualify, but a story on NPR this morning also made the point that this move might pressure other lenders to make similar offers. Which read more...
by Kami Huyse