On October 20 2017 the Federal Housing Administration (FHA) published Mortgagee Letter 2017-15, Extension of Initial Disaster Foreclosure Moratorium for Properties in Specified Areas Impacted by Hurricanes Harvey, Irma, and Maria. This Mortgagee Letter (ML) communicates specific guidance for the extension of the foreclosure moratorium for FHA-insured properties in the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA)-designated Individual Assistance Areas that are located within the Presidentially-Declared Major Disaster Areas for Hurricanes Harvey, Irma, and Maria. The extension of these three initial moratoriums applies to the initiation of foreclosures and foreclosures already in process.
What does HUD say?
Over the past year and a half, I’ve had the luxury of speaking with several hundred FHA 203k Consultants. During my conversations, I’ve been surprised to learn there are a whole lota consultants out in the consulting world that are generating their specification of repairs “Ass Backwards” according to