The Senate approved a bill late Tuesday that would retroactively extend over 50 expiring tax provisions for one years, including one that shields distressed homeowners from paying taxes on any mortgage debt forgiven in a short sale.
Lenders should adhere to all requisite pre-foreclosure loss mitigation measures for HUD loans.
While the lawsuit may not succeed, lenders should carefully evaluate adherence to required loss mitigation procedures on Department of Housing and Urban Development loans.

The CFPB's new proposal would require servicers to offer loss mitigation more than once over the life of the loan under certain circumstances before a loan could proceed to foreclosure.
The Consumer Financial Protection Bureau issued a proposal Thursday that would institute new foreclosure protections for consumers after the agency found its previous mortgage rules didn't go far enough.

Plaintiffs advocating for spousal rights in existing Home Equity Conversion Mortgages are renewing their motion for class certification, citing circumstances surrounding two instances of foreclosures under interim government policy.

Despite policy changes that apply to new reverse mortgages, the rights for existing spouses of deceased borrowers remain unclear and subject to change until HUD and litigants agree on a final policy in line with court directives.

Continuing housing problems and increasing economic inequality are bringing illness to low-income neighborhoods. To solve the problem, policymakers and financial industry leaders need to develop programs that address the intersecting issues of health and poverty.
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