Many Delinquent HECM Borrowers Are in Prepayment Plans

The Federal Housing Administration said 56% of the 54,000 borrowers in default on their FHA Home Equity Conversion Mortgage are participating in a “repayment plan to pay off their outstanding TI debt.”

Article source: http://www.nationalmortgagenews.com/dailybriefing/many-delinquent-borrowers-participating-in-repayment-plans-1032099-1.html

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