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HUD extends foreclosure moratorium on Maui for affected borrowers impacted by 2023 wildfires

2024-05-06

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Terri Talamantez

05-07

how can you say that the bank is not going to foreclose on those homes that were affected by the Maui wild fires since they have an FHA loan that includes mortgage insurance, so why would they foreclose on these homes that were lost in the fire, what good is having mortgage insurance if the bank is going to foreclose on them because in a sense they are not only getting the payoff for the home and yet the homeowner still has to pay the loan back and possibly lose what they don't have that the bank now has and has been paid out 2 x? so what good is having mortgage insurance if you lose all in the end. who makes out, the bank. cheap shot to the American homeowner

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