24 CFR 203.616 - Mortgage modification.

Regulations last checked for updates: Oct 17, 2024

Title 24 - Housing and Urban Development last revised: Sep 16, 2024

View all text of Subpart C [§ 203.500 - § 203.681]

§ 203.616 - Mortgage modification.

The mortgagee may modify a mortgage for the purpose of changing the amortization provisions by recasting the total unpaid amount due for a term not exceeding 480 months. The mortgagee must notify HUD of such modification in a format prescribed by HUD within 30 days of the execution of the modification agreement.

[62 FR 60130, Nov. 6, 1997, as amended at 88 FR 14259, Mar. 8, 2023]

authority: 12 U.S.C. 1707,1709,1710,1715b,1715z,1715u,and; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)

source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.

cite as: 24 CFR 203.616