1. Regulations
  2. title 24
  3. chapter II
  4. part 203
  5. subpart C
  6. subjgrp 116
  7. § 203.616

View all text of Subjgrp 116 [§ 203.600 - § 203.616]

§ 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-16, 1715u, and 1715z-21; 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