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FHA makes changes for post-foreclosure sales
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Nonbank Financial
Monday, May 16, 2022
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The Federal Housing Administration issued a mortgagee letter which added a 30-day buyer preference for certain home sales. The objective of this addition is to increase supply and access to affordable housing and homeownership for low- and moderate- income homebuyers.
The change also creates a preference for Housing and Urban Development approved nonprofits and governmental entities as part of the post-foreclosure sales period.
Read on for more details.
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