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Code · CFR · Title 24 — Housing and Urban Development · Part 203 — Single Family Mortgage Insurance · § 203.616

§ 203.616. Mortgage modification.

67 words·~1 min read·/us/cfr/t24/s§ 203.616·

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