ARTICLE
13 November 2020

HUD Extends Date To Approve COVID-19 Forbearance And HECM Extension

BS
Ballard Spahr LLP

Contributor

We provide strategic legal services and business solutions of the highest quality, delivered with uncommon efficiency.

With more than 750 lawyers in 18 U.S. offices, we bring industry knowledge augmented by tenacity, initiative, and a drive for results—creating an outsized advantage for clients in litigation, transactions, and regulatory compliance.

In Mortgagee Letter 2020-34, dated October 20, 2020, the U.S. Department of Housing and Urban Development extended the date for approving an initial COVID-19 forbearance with an FHA loan, or a COVID-19 extension ...
United States Finance and Banking

In Mortgagee Letter 2020-34, dated October 20, 2020, the U.S. Department of Housing and Urban Development (HUD) extended the date for approving an initial COVID-19 forbearance with an FHA loan, or a COVID-19 extension with a home equity conversation mortgage (HECM) loan (i.e., a reverse mortgage loan), from October 30, 2020 to December 31, 2020. 

The means of communication with borrowers regarding a COVID-19 forbearance, the terms of a COVID-19 forbearance, and the terms of a HECM extension remain the same as established in Mortgagee Letter 2020-06.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More