24 C.F.R. § 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.
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 1985–2021 · leading case: Mfrs. Hanover Mortg. Corp. v. Snell, 370 N.W.2d 401 (Mich. Ct. App. 1985).
Mfrs. Hanover Mortg. Corp. v. Snell, 370 N.W.2d 401 (Mich. Ct. App. 1985). “The other mortgage servicing provisions of the regulations, i.e., "special forebearance relief’ and "recasting” of the mortgage, are available only at the discretion of the lender.”
Wells Fargo Bank, N.A. v. Lorson, 341 Conn. 430 (Conn. 2021). “614 , mortgage modifica- tion, 24 C.F.R. § 203.616 , and a requirement that [c]ollec- tion techniques must be adapted to individual differences in mortgagors and take account of the circumstances peculiar to each mortgagor, 24 C.”
— 24 C.F.R. § 203.616(c) — 1 case
Mfrs. Hanover Mortg. Corp. v. Snell, 370 N.W.2d 401 (Mich. Ct. App. 1985). “The other mortgage servicing provisions of the regulations, i.e., "special forebearance relief’ and "recasting” of the mortgage, are available only at the discretion of the lender.”
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