About the Program Office:
HUD's Federal Housing Administration (FHA) has been a national leader in the mortgage industry since 1934, when it introduced America's first government-insured, 3% down, fixed-rate, 30-year residential mortgage loan. Since then, millions of Americans have benefited from this federal program. In 2001, in Ohio alone, over 40,000 homebuyers used an FHA-insured mortgage to buy their home with a volume of over $4 billion being generated.
FHA's Single Family products today include fixed-rate mortgages (FRMs), adjustable rate mortgages (ARMs), rehabilitation loans, reverse mortgages, condominium loans and many other specialty loans for residences comprised of 1-4 living units. FHA-insured mortgage loans offer low down payments, consumer-friendly qualifying ratios, flexible sources of acceptable income and closing costs that can be financed to reduce the amount of cash needed up front at closing. Clearly, FHA-insured loans make it easier to achieve the American Dream of Homeownership!
HUD/FHA's Loss Mitigation program can be used in certain circumstances to help keep individuals and families in their homes. Through the program, borrowers with home mortgages insured by the FHA have several options that may be used to avoid foreclosure. The program is most often successful when delinquencies are a result of a temporary financial setback and the borrower and lender take prompt action to resolve the matter.
HUD/FHA does not administer the loss mitigation program. Rather, FHA lenders/servicers are responsible for its implementation. Borrowers are required to submit financial information to their lender/servicers who use the information to qualify the borrowers for one or more options. HUD/FHA regularly reviews lender/servicer files to insure industry compliance with loss mitigation requirements.
For assistance with the loss mitigation program, borrowers are encouraged to contact a local HUD-approved housing counseling agency that specializes in default counseling.
Local Office Contacts:
Service Areas (Jurisdictions):
Guidance and Technical Assistance from the Local Program Office:
HUD Program Pages: