A new 40-year mortgage option is available, but it's not for buying a house. It's only for modifying FHA loans due to COVID-19 to help homeowners avoid foreclosure and get back on track. Misleading headlines can be deceiving, so don't jump to conclusions! While the option may become available for purchasing a home in the future, it's not currently available. Always read the fine print and get the full story before making any decisions.
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