Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 24 - Housing and Urban Development |
Subtitle B - Regulations Relating to Housing and Urban Development |
Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
Part 203 - Single Family Mortgage Insurance |
Subpart C - Servicing Responsibilities |
Mortgagee Action and Forbearance |
§ 203.616 - Mortgage modification.
Latest version.
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§ 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 360 480 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]