The Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) have announced that certain planned changes to the H4P program will not be implemented following public feedback expressing concerns. This decision comes after a period of public comments and engagement with stakeholders to ensure that the program continues to meet the needs of seniors seeking to use their home equity to supplement retirement income.
Key points:
– HUD and FHA have decided to halt implementation of changes to the H4P program
– Public comments raised concerns about the proposed changes
– Stakeholder engagement was a crucial part of the decision-making process
– The goal is to ensure that the H4P program remains effective in helping seniors access their home equity
You can read this full article at: https://www.housingwire.com/articles/hud-walks-back-some-proposed-changes-to-hecm-for-purchase-program/(subscription required)
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