NACA-Alert – FHA Borrowers Take Action – FHA Accountability Campaign

Dear FHA Borrower,

If you have not obtained an affordable solution with your FHA mortgage, this message is very important. While NACA has been extremely successful modifying mortgages, FHA mortgages have been the most difficult. Thus we need to take action and ask President Obama why he is failing homeowners who have a government-backed FHA mortgage.

While the best solution for a FHA borrower is the FHA-HAMP solution, FHA makes it extremely difficult to obtain this solution. This solution reduces the outstanding principal by up to 30%, reduces the interest rate to the current market rate which is about 4% (the reduced principal must be repaid at the end of the loan term), and extends the loan term to 30 years. While this solution is not as good as ones provided by other lenders, where interest rates are reduced to as low as 2% and a portion of the outstanding principal eliminated, FHA-HAMP is the best option available at this time.

We need you to take action NOW if you have not yet received an affordable solution by doing the following:
1. Call the FHA National Servicing Center (“NSC”) at 877-622-8525 to file a complaint. They are responsible for assisting FHA borrowers who have had difficulty working with their lender. Please do the following:
a. Provide the NSC with your FHA case number. Get your case number from your lender, FHA case number can be found in the top left corner of your HUD 1 settlement statement received at closing or NACA (contact NACA at
b. Insist on filing a complaint. Do not take no for an answer.
c. Request a FHA-HAMP solution (i.e. reduce your principal by up to 30% and reduce your interest rate)
d. Tell the NSC you are working with NACA.
e. If you are denied an affordable solution by FHA, obtain the reason and provide that to NACA at

2. If you are not satisfied with the NSC response, please take the following action.
a. Contact FHA Commissioner Carol Galante. Commissioner Galante needs to understand what you are going through. You can contact her by emailing her at or by call her office at 202-708-2495.

3. Keep NACA informed by sending email updates to We have staff dedicated to working with FHA borrowers. Tell us your current circumstances that make your current mortgage payment unaffordable including:
a. Reason for your difficulties (i.e. reduced income, unaffordable mortgage terms, etc.)
b. Number of months late or if you are current.
c. Your experience with your lender as well as FHA.
d. Are you willing to participate in actions and activities against FHA. These include demonstrations, meeting with Members of Congress, holding President Obama accountable (i.e. at his campaign appearances), and other actions?

NACA will continue to be your advocate. While FHA has not been responsive to our efforts to work with them, we will not take no as an answer and neither should you. We are working with tens of thousands FHA borrowers as well as hundreds of thousands of other homeowners who we can involve in activities to make FHA work for its borrowers. It is outrageous that FHA, as the Obama Administration’s major government housing program, is one of the worst in helping homeowners save their homes. We need to tell President Obama to standup for homeowners and to set the standard with FHA borrowers.

Bruce Marks


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