Fptb news

FPTB stands for "Forbearance to Permanent Modification to Budget" which is a program offered by the Federal Housing Administration (FHA) to help homeowners who are struggling to make their mortgage payments. Here are some recent news and updates related to FPTB:

Recent News:

  1. FHA Extends FPTB Program: In October 2020, the FHA announced that it would extend the FPTB program until September 30, 2022, to help homeowners who are struggling to make their mortgage payments due to the COVID-19 pandemic.
  2. FPTB Eligibility Expanded: In August 2020, the FHA expanded the eligibility criteria for the FPTB program to include more homeowners who are struggling to make their mortgage payments. The program is now available to homeowners who are experiencing financial hardship due to the pandemic, including those who have experienced a reduction in income or have experienced a medical emergency.
  3. FPTB Application Process Simplified: In June 2020, the FHA announced that it would simplify the application process for the FPTB program to make it easier for homeowners to apply for the program. The simplified application process includes a streamlined online application and a reduced number of required documents.

Benefits of FPTB:

  1. Reduced Monthly Payments: The FPTB program allows homeowners to temporarily reduce their monthly mortgage payments to a more affordable level.
  2. Temporary Forbearance: The program provides temporary forbearance, which means that homeowners are not required to make mortgage payments for a specified period of time.
  3. Permanent Modification to Budget: After the temporary forbearance period ends, homeowners can apply for a permanent modification to their mortgage payment plan, which can help them get back on track with their mortgage payments.

How to Apply for FPTB:

  1. Contact Your Lender: Homeowners who are struggling to make their mortgage payments should contact their lender to see if they are eligible for the FPTB program.
  2. Complete the Application: If eligible, homeowners will need to complete the FPTB application, which can be done online or by mail.
  3. Provide Required Documents: Homeowners will need to provide required documents, such as proof of income and expenses, to support their application.

I hope this information is helpful!