§203.616. Mortgage modification.
24 C.F.R. § 203.616
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.
Notes, amendments, and revision history
Amendments
[62 FR 60130, Nov. 6, 1997, as amended at 88 FR 14259, Mar. 8, 2023]
Source
Source: 41 FR 49736, Nov. 10, 1976, unless otherwise noted.
Authority
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
Source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.
Amendments
[62 FR 60130, Nov. 6, 1997, as amended at 88 FR 14259, Mar. 8, 2023]