NAR provided a commentpdf to HUD in response to its request for input on its proposal to allow the FHA to modify mortgages of distressed homeowners with a term of up to 40 years.

REALTORS believe, and NAR's Responsible Lending Policypdf outlines, that a standard for determining a borrower’s ability to repay must be flexible to accommodate borrowers with unique circumstances. Allowing the FHA to modify the mortgages of distressed homeowners to a monthly payment that they can meet with a moderately longer amortization helps to support both homeownership and stability of the market.
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