Communities across the United States are experiencing steady and even increasing rates of foreclosure, as well as an increase in the number of homeowners at risk of foreclosure. Each foreclosure event represents a potentially devastating impact on the homeowners that lose their homes, on the neighborhoods that experience a growing accumulation of vacant and abandoned housing and on the nation's economic recovery which is largely dependent upon the stability of the housing market.

In response, The Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD), is working aggressively to halt and reverse the losses represented by foreclosure. Through its National Servicing Center (NSC), FHA offers a number of various loss mitigation programs and informational resources to assist FHA-insured homeowners facing financial hardship, and whose mortgage is either in default or at risk of default.

FHA Home Affordable Modification Program (HAMP): FHA HAMP is designed to help FHA-insured borrowers who meet HAMP eligibility requirements to avoid foreclosure by permanently reducing their monthly mortgage payment through the use of a partial claim. The partial claim defers the repayment of mortgage principal through an interest-free subordinate mortgage that is not due until the first mortgage is paid off. Under the partial claim option, lenders are authorized to advance funds on behalf of a borrower, to reinstate a delinquent loan that is up to 12 months delinquent. HAMP will allow HUD to bring eligible FHA borrowers' payments down to an affordable level. This will be accomplished by bringing the mortgage current, buying down the loan by up to 30 percent of the unpaid principal balance and deferring these amounts in a partial claim.

HOPE for Homeowners (H4H): The HOPE for Homeowners Program will refinance mortgages for borrowers who are having difficulty making their payments, but can afford a new FHA-insured loan. Call (800) 225-5342 for more information.

In addition to HAMP and H4H, FHA offers a variety of standard loss mitigation program options. A more extensive explanation of these options is available online here, and include:

FHA Loss Mitigation Home Retention Programs and Policies:

	Revised Loss Mitigation Waterfall FAQs (ML 2012-22)
	Special Forbearance Fact Sheet
	Loan Modification Fact Sheet
	Partial Claim Fact Sheet
	FHA HAMP Fact Sheet
	Servicing Loss Mitigation FAQs
	Loss Mitigation Policy and Guidance

FHA Loss Mitigation Disposition Programs and Policies

	Preforeclosure Sale Fact Sheet
	Deed In Lieu Fact Sheet

FHA Home Equity Conversion Mortgage Program (HECM):

	HECM Assignment Requests
	HECM Servicing FAQs
	HECM ML 2011-01 FAQs

CONTACT FHA

FHA staff are available to help answer your questions and assist you to better understand your options as an FHA borrower under these loss mitigation programs. There are several ways you can contact FHA for more information, including:

	Call the NSC at (877) 622-8525
	The Online FHA Resource Center
	Call the FHA Outreach Center at 1-800-CALL FHA (800-225-5342)
	Persons with hearing or speech impairments may access this number via TTY by calling the Federal Information Relay Service at (800) 877-8339
	Email the FHA Resource Center

Home Equity Conversion Mortgage (HECM) Borrowers:

U.S. Department of Housing and Urban Development
National Servicing Center
2 West 2nd Street, Suite 400
Tulsa, OK 74103
Phone: (800) 594-9057 or (918) 292-8900
Fax: (918) 292-8984
Email:  HECMServicing@deval.us