If you are a Chinese drywall homeowner whose mortgage is insured by the Federal Housing Administration (FHA), the Department of Housing and Urban Development may be able to help you.
The FHA is reminding its approved lenders that they are to offer special forbearance for borrowers confronted with the sudden effects of damaging drywall products in their homes including the financial hardship associated with related home repairs. Lenders also are being encouraged not to charge late fees and to give the homeowners time to make up past-due payments. This aid only available to homeowners whose mortgages are FHA- insured and who may qualify for help under an existing mortgage-forbearance program intended to prevent foreclosures. (more…)

