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Reverse hypotheque (HECM) default, audit ci dëkkuwaay yi, ak yelleefi jabar wala jabar ji dul lebal

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Joxe ** "Due and Payable" Acceleration Notice** wala menace foreclosure ci assurance federal Këru Equity Conversion Mortgage (HECM) wala hypotheque reverse mooy jafe-jafe bu raglu ci boroom kër bu mag, ab xale buy dundu Non-Borrowing Spouse estate. Ndax dañu jaay hypotek yu ñu delloo ni "amul xaalis bu ñuy fay weer wu nekk", ñiy lebal ak seeni njaboot dañuy faral di ñàkka xam ni serwiis hypotek buy delloo (lu melni PHH Mortgage / Celink, Longbridge Financial, Finance of America Reverse, wala HUD / Novad) mën nañu woote balans bu ëpp ñeenti mbir yuy waral ñu baña fay: (1) ñàkka fay juuti ci moomel, assurance boroom kër, wala HOA ("Juuti ak assurance / T&I Default") **, (2) ñàkka dello at mi ** bataaxal biy firndeel dëkkuwaay ** wala toog ay weer yu bari ci lopitaal bu ñàkka mëna toppatoo lopitaal bi. kër gi, wala (4) faatu jabar ji lebal.

Doonte ay bataaxal yu am doole yuy sàkku ñu fay leen lépp ci diir bu weesuwul 30 fan, sàrti Departemaa federaal bu dëkkuwaay ak yokkute ci dëkk yi (HUD) (24 C.F.R. Su jogee ci li waral, mën nga taxawal foreclosure jëfandikoo 60-weer HUD At-Risk Extension (ngir ñiy lebal 80+ at ak soxla yu metti ci wàllu wérgi-yaram), 60-weer HECM Repayment Plan, Diiru yeexal ngir ab **Leble bu yelloo ak Spooutataaxelu HUD Mortgagee 2021-11), wala Regle bu 95 ci teemeer boo jél ñiy jël xaalis ak 12 weer yu HUD di yokk ci saasi.

Defal lii leegi

  1. **Xamleel ci saasi li waral ñu bind ci "Due and Payable Notice": ** Xoolal ci kaw bataaxalu serwiis bi ngir xam ban ci ñatti boyet yi lañu marke: (A) Juuti ak/wala Assurance Hazard Default (Avanse Corporate), (B) Certify /Oil- (C) Génnug àdduna ki mujjee lebal. Bépp declencheur amna kalendriye ak këyitu liggéey bu wuute lool ci wàllu HUD ngir wàññi loss-mitigation.
  2. **Fax "Occupancy Default" ci diiru 24 waxtu sudee ki lebal ba leegi mingi dëkk ci kër gi (wala mu nekkoon ci barabu reehabilitaasioŋ / toppatoo lu mu néew 12 weer yu toppalante): ** Ay junni mortgage yuñ delloo ñu ngi juum ci woowe Due and Payable at mu nekk ndax leblekat bu màgget mail bi wala mu toog 3 weer ci hopitaal wala barabu infirmiye bu xarañ. Ci suufu 24 CFR § 206.39 ak § 206.27©, absente ci diir bu gàtt ngir faju wala rehabilitasioŋ ba 12 weer yu toppalante DU ÑÀKKAL sàrti dëkkuwaay bu mag bi. Ci saasi nga siñe Formulaire de Certification d'occupation annuelle ak ñaari faktiiru serwiis publik (kuuraŋ, ndox, wala gaz) ak këyitu doktër buy firndeel ni ki lebal mingi dëkk ci kër gi wala dina dellusi balaa 12 weer yi.
  3. Laaj "At-Risk Extension" (Leblekat bi am 80 at+ ak jafe-jafe wérgi-yaram) wala "Plan ngir fay 60 weer" ngir Juuti ak Assurance Defaults: Sudee servicer bi dafa njëkka fay xaalis ngir fay juuti yi weesu wala assurance boroom kër yi ("Corporate Advance) Ci wàllu HUD Handbook 4000.1, sudee ki gëna ndaw ci leblekat bi am 80 at wala gëna mag** te amna feebar bu tar (doktër bi ko firnde) bu ko tere toxu, ki koy serwiis mën na laaj ñu yeesal ko 12-Weer HUD "At-Risk Extension" buy tere foreclose Ngir yeneen ñiy leble, laajal Evaluation Financière & 12-ba-60-Weer HECM Repayment Plan (fu ngay fay 25% ci sa "Surplus Income" weer wu nekk ngir juuti/assurance), wala nga laaj sudee sa etaa amna Fonds d'assistance à boroom kër" Prograamu yeexal.
  4. ** Wax sa "Jëkkër ak jabar bu dul lebal (NBS) Diiru yeexal" ci saasi sudee sa jabar/jëkkër génn àdduna: ** Sudee sa jabar/jëkkër rekk lañu lim ni "Lebkat" ci këyitu HECM (dafay faral di am ndax yaa ngi nekkoon ci suufu 62 at bi leble bi tëjoo) te sa jabar/jëkkër amul woon leble sudee génn na, ñu sëyoon ci jamono ji ñuy tëj leble bi, ñu des ci sëy ba seen dee, ñu fësal ko ci këyitu leble bi (ngir nimero Case yi ci ginaaw 4 ut 2014, wala ñu mëna am ci HUD's expanded Mortgagee Optional Election / MOE ngir pre-August loan. Ci HUD Mortgagee Letter 2021-11, HUD **dindi na li ñuy laaj ** ni ab jabar/jekker bu mucc budul leble dafa wara firndeel titre legal bu mën jaay wala ab toxal ci diiru 90 fan, li ngay def du lenn ludul wéy di dëkk ci kër gi te wéy di am xaalis ci assurance ak juuti ci moomeel ëlëg.
  5. **Yonnee ab bind "Yegle ci yéene ndono" ci diir bu weesuwul 30 fan ginaaw bi ki lebal génnee àdduna ngir tëju ci 6-weer + ñaari 90 fan yu yokk (12 weer ci lëmm) AK sàrt 95%: ** Sudee waajur yépp génn nañu àdduna te yaay ndono ci dee, boole ci **ñaari 90 fan yu HUD yokk (ba 12 weer ci lëmm) **, ngir jaay kër gi wala ngir refinance ko. Li gëna wóor mooy, sudee bori hypotek bi dafa "ci suufu ndox" (ci misaal, saldo bori bi dafa màgg ba $ 350,000, waaye kër gi amul lenn ludul $ 260,000), sàrt federal (**24 CFR § 206.125(a)(2) ak § 206.125(a)(2)) ak § 206. këru famiy wala jaay ko ci fay LESSER ci (a) saldo bor bi yépp, wala (b) 95 pursaa ci HUD-value marché juste ($ 247,000) **, ak FHA assurance fomp dessitu $ 103,000 bor ba fàww.
  6. Jokkoo ak ab xelalkat bu HECM bu HUD nangu (1-800-569-4287) ak aar kaaraange mag ñi dëkk foofu: Woowal ligne ofisel bu HUD biy xelal dëkkuwaay ci 1-800-569-4287 nga laaj HUD-Sertifiye HECM Default Conseiller (te doo fay). Sudee ab liggéeykat buy sàmm moomel bu ab serwiis jël, jéema tëj ab kër buñu dëkk ci anam wudul yoon, tëj serwiis publik yi, wala dindi ay moomeel ci diggante 5 meetar (16 pied) ak ab dëkkuwaay buñu dëkk, woo sa nimero urgence bi la gëna jege (911 ci Etats Unis ak Canada, 112 ci sunu EU9) nimero paj mu jamp répertoire bi ci saasi.

Garab dogal: Dakkal ab foreclosure hypotheque buñu delloo ci xeetu default

Xaarandil ban bànxaas mooy jëfandikoo ci sa jafe-jafe hypotheque reverse te nga def kaaraange HUD bi méngoo ci saasi.

flowchart TD
    A["Jox HECM 'Waaye ak Fey' wala yëgle buy tere"] --> B{"Lan moo waral Default bi?"}
    B -->|"1. Juuti ci moomel, assurance boroom kër, wala HOA Default (T&I)"| C{"Ñaata xaalis ngay lebal & at yi nga wara lebal?"}
    C -->|"Tolluwaayu xaalis bu néew $5,000"| D["Serwiis dafa wara yeexal Yonnee Foreclosure (De Minimis Threshold) Balaa ngay faj"]
    C -->|"Borrower bi gëna ndaw 80+ at ak feebar bu tar"| E["Yonnee bataaxalu doktër ngir HUD 'At-Risk Extension' (Dafay taxawal Foreclosure ci 1-At Yokk)"]
    C -->|"Yeneen ñiy lebal yépp"| F["Laajte HECM 12-ba-60-Weer Planu Fayu (25% ci Surplus Revenu) + Yeexal Juuti bu Réew mi"]
    B -->|"2. Xool limu dëkkuwaay bi / Absence médical"| G{"Ndax ki lebal demoon na >12 weer yu toppalante?"}
    G -->|"Dédeet (ba leegi maa ngi dëkk ci kër ga wala ci hopitaal/rehab <12 weer)"| H["Yonnee Sertifikaa di wane ni danga siñe + 2 faktiiru serwiis publik + këyitu doktër (Delloosi ci saasi)"]
    G -->|"Waaw (ci këru mag ñi ba fàww >12 weer) & Déedet Co-Borrower"| I["Dellu ci jëkkër ak jabar bu dul lebal wala njaboot 95% Jaay/Refinance"]
    B -->|"3. Faatug jabar wala jëkkër ji lebal"| J{"Kan mooy des ci kër gi?"}
    J -->|"Sëy bu des te lebalwul (NBS)"| K["Woowal HUD diiru yeexal (ci ginaaw-8/4/2014) wala liggéey MOE (balaa-8/4/2014) ci suufu ML 2021-11"]
    J -->|"Xale yu mag yi / Erneur yi / Doole"| L["Dosie Bindu Yegle bu Yéene ci diir bu weesuwul 30 fan -> Tëj ci 6 weer + Ñaari yokk 90 fan + 95% Payoff Regle"]

Kaaraange 1: Faj ab "Tax ak Assurance (T&I)" Default te doo ñàkk sa kër

Sudee ki lebal kër gi dellu ginaaw nanguwul fay juuti gi ci dëkk bi wala mu bàyyi seen assurance kër mu jeex (xoolal sunu assurance boroom kër yi duñu yeesal ak tegtal), sàrti HUD dañu sàkku ci kiy serwiis mu njëkka xaalis liggéeyukaay bi ngir fay juutikat bi wala jënd polis assurance, ba noppi wax ni hypotek bi delloo ci Juuti ak Assurance (T&I) Default.

Laata ab serwiis di mëna yónnee ab leble HECM ci ab avocat foreclosure ngir T&I default, HUD Handbook 4000.1 (Section III.A.3) daf lay jox juróomi boor yu mën wàññi perte:

HUD Perte-Mitigation Bouclier Kan moo yelloo? naka lay taxawal foreclosure
1. $5,000 "De Minimis" biñu wara fay Bépp leblekat HECM boo xamni xaalis bimu def te doo fay juuti ci moomel ak assurance hazard mu néew $5,000 (ñu yeesal threshold ci wàllu politik HUD). Soo fekke ni sa bor T&I yépp nekk ci suufu threshold bi te nga wane ni danga bëgga fay, servicer bi may nañu ko yeexal woo bor bi war ak fay bi muy liggéey ci palaŋu fay.
2. Planu fayyu HECM (12 ba 60 weer) Bépp leblekat bu am "Revenu surplus" bu baax weer wu nekk ginaaw boo dindie xaalis bi war ngir dundu (ñam, serwiis publik, pajum paj) ci xaalis biy dugg ci Securite Sociale/pension weer wu nekk. Serwiis bi dafay xayma sa surplus Income weer wu nekk ba noppi def benn payoor bu tollu ci ** lu tollu ci 25 pursaa ci sa Surplus Income**, tasaare juuti/assurance yi ci ba 60 weer (5 at) ci 0% intere extra ci avance korporatif bi.
3. HUD bi "At-Risk Extension" (At 80+ Jafe-jafe Pajum) Ki gëna ndaw ki lebal am 80 at ci kaw AK doktër bu am lijjaassa dafa wara firndeel ni ki lebal (wala ki mu àndal) amna feebaru faj, laago yaram bu yàgg, wala soxla dëkkuwaay bu amul fenn (lu melni dementia wala wéeru ci jumtukaayi pajum kër). Serwiis bi dafay joxe sertifikaa doktër bi ci HUD, mooy jox 1-Year Foreclosure Extension (ñu koy yeesal at mu nekk ci dundu leblekat bi), mu dakkal foreclosure bi doonte leblekat bi amna $0 Surplus Income te mënul fay palaŋu fay.
4. Sitaasioŋwaat assurance biñ def ci doole ak juuti giñ delloo ginaaw Bépp leblekat bu T&I balans bi yokk ci $5,000+ leblekat forse-def polis assurance wala benn mag / invalidite exemption juuti. Soo jëndee sa bopp politiku boroom kër ci sa bopp, loolu dina tax ñu delloo la xaalis bi nga fayee ci diir bu weesuwul 15 fan (12 C.F.R. § 1024.37(g)), ba noppi nga ñaan sa dëkk ñu fay la juuti ci juuti giñ la fay ci sa dëkk. jege zero.
5. Refinancing ci HECM bu bees ak "LESA" (Dundu guñu xaar) Leblekat yi seen kër yokk bu baax ci valeur biñu jëlee hypotek bi njëkk ba leegi. Sudee sa alal ci kër gi dafa màgg, mën nga ko refinanse ci HECM bu bees ("HECM-to-HECM Refinance") buy fay T&I yi ci tëjug ba noppi di fay ** Life Expectancy Set-Aside (LESA) **, ab seau escrow buy fay sa assurance ëlëg ak juuti yi ci sa moomeel.

Kaaraange 2: Mucc ci "Occupation Audit" wala Lopitaal bu yàgg / Këru paj

Ci suufu 24 CFR § 206.27©, hypotek buñ delloo dafay des ci anam wu baax fileek moomel bi nekk dëkkuwaay bu mag bu benn boroom alal. At mu nekk, liggéeykat yi dañuy saytu ni kër gi di doxee (ak ci saasi saa yu ñu delloo mail bi ndax mënu ñu ko joxe wala dëkkandoo bi wax ni kër gi dafa dal).

Ñatti sàrt yuy tere ab tëj budul yoon bu "amul dëkkuwaay"

  1. Regle Co-Borrower (100% Aar Doonte Kenn ci Jëkkër ak jabar dugg na ci këru paj mu yàgg): Sudee jëkkër ak jabar ** ñoom ñaar** ñu ngi limu Co-Leble ci hypotek bi ñu delloo, te jëkkër ji toxu ba fàww ci memory-care wala paj mu xarañ ci dundam, ak ñu koy fay fu soxna si (Co-Borrower) wéy di dëkk ci kër gi muy dëkkam bu mag**.
  2. Regle bu 12 weer yu toppalante ci absence médical (ngir benn leblekat): Sudee benn leblekat kese moo am ci leble bi (wala ñoom ñaar ñépp ñu ngi ci benn barab), yoon may na leblekat bi mu baña nekk ci kër gi ci hopitaal, ci santu rehabilitasioŋ, ci ** kër wala ci famiy weer yu toppalante (365 fan)** ngir feebaru yaram wala xel te du indi njuumte.
  3. Jëf bu am solo balaa weer 12: Sudee ki lebal rek mingi jegesi bis 330 ci barabu reehabilitaasioŋ, dellu seen kër ngir dëkk ci moomel (ak pajum wérgi-yaram ci kër) balaa bis 365 dafay reset 12 weer yi, lépp bëgg kër gi nekk seen dëkkuwaay bu mag.
  4. Bul musa xàddi ci bataaxal biy firndeel ni am nga dëkkuwaay at mu nekk: At mu nekk ci bis bi nga tëjee sa bor, ki lay jox serwiis bi daf lay yónnee Formulaire buy firndeel ni am nga dëkkuwaay bu am benn xët. Sudee siñewoo ko ba noppi delloo ko ci diir bu weesuwul 30 fan, serwiis bi dina yónnee ab yëgle buy àrtu, yónnee ab inspectër ngir fëgg sa buntu jël ay nataali sa kontëru kuuraŋ ci trotoire bi (di sàkku ci sa bori $20 ngir saytu moomel), ba noppi tàmbali Non-Occupancy Due ak UD. Delloosi saa yu nekk Sertifikaa bi nga siñe ci Mail ak email/fax, nga denc benn kopi ngir say dosiye.

Kaaraange 3: Aar "Jëkkër ak jabar ji dul lebal (NBS)" ginaaw bi ki lebal génnee àdduna

Ci taarix, boroom kër yi dañu daan faral di gëmloo jëkkër ak jabar yi ñu jël jabar/jëkkër bu ndaw bi (espesialeman jabar/jekker bu tolluwul ci 62 at) ** ci titre kër gi ** suko defee jabar/jekker bu mag bi mëna am xaalis bu gëna rëy ci payoor hypotek bi kese. Su jabar/jëkkër ji lebal mag ji faatoo, servicers yi dañuy tëj jabar ji wala jëkkër ji ténji ("Non-Borrowing Spouse").

Ginaaw àtte federal (Bennett v. Donovan ak Plunkett v. Castro) ak coppite yu mag ci politiku HUD, **Jëkkër ak jabar yi amul leble leegi am nañu yelleefu federal bu am doole ngir des ci seen kër seen àdduna yépp te duñu fay weer wu nekk **:

Noo ngi doxee "Diiru yeexal" jabar/jekker bu dul lebal HUD

Ndax sa jabar wala sa jëkkër jël na ci wala ginaaw 4 ut 2014 (Nimero Case FHA biñ jox ci/ginnaaw 08/04/2014, di doxal ci 24 CFR § 206.55) wala balaa 4 ut 2014 Falug tànneef / MOE Assignment sàrt yi nekk ci HUD Mortgagee Letter 2019-15 ak 2021-11), mën nga yeexal foreclosure ci sa dundu gi des ni Jëkkër ak jabar bu dul lebal sudee mat nga yii sàrt:

  1. Séy ci tëjug ak ci dee: Yaa ngi sëyoon ak ki lebal ci jamono bi ñuy tëjee bori hypotek bi (wala nga nekkoon ci relation bu yoon tere sëy, te ginaaw ga nga sëy ci yoon balaa ki lebal di dee) te des ci sëy ak ki lebal ba dee;
  2. Dëkkuwaay bu mag bi: Yaa ngi dëkk fi mu nekk, te yaa ngi dëkkoon bi ki lebal génnee àdduna, ci moomel biñ tëye, muy dëkkuwaay bu mag bi;
  3. Waatul ñu wara firndeel titre legal ci diiru 90 fan (HUD Mortgagee Letter 2021-11 Breakthrough): Balaa Mee 2021, servicers yi dañu tëjoon ay junni jigéen ndax àttekaay bi jël na lu ëpp 90 fan ngir dugal jabar ji ci kër gi. Ci wàllu HUD Mortgagee Letter 2021-11, HUD dindi na ba fàww li ñuy laaj ni sëykat bi nekk ci dunndu te leblewul dafa wara firndeel titre buñ mëna jaay wala yelleefu yoon ngir des ci diir bu weesuwul 90 fan ginaaw bi ki lebal génnee àdduna.
  4. Sa wareef yi wéy ci diiru yeexal bi: Bi nga mënatul génne xaalis bu bees ci ligne de leble hypotek bi, danga def $0 weer wu nekk ci sa xaalis ak intere yi ci sa dundu gi des, danga wara (a) dello at mi Non-Occupancy Payb, Eert Occupanying Spouse (O) juuti gi ci moomel ak prime assurance boroom kër ci waxtu, ak © toppatoo baayima yi.

Kaaraange 4: Yelleefi xale yu màgget yi ak ndono yi ginaaw bi ki mujjee lebal dee (95% sàrt yi ak 12 weer yi)

Sudee ki mujjee lebal (ak bépp jabar/jëkkër bu dul lebal) génn àdduna, bori hypotek bi dafay nekk Due and Payable. Waaye, serwiis yi dañuy faral di yuuxu xale yu naqar yi ak njuumte "30-Day Foreclosure Warnings" ci di nëbb ñaari yelleefi federal yi gëna am solo ci **24 C.F.R. § 206.125:

1. Ni ñuy tijji 12-Wer Timeline (6 Weer yu njëkk + Ñaari 90-Day HUD Extensions)

  • Yegle bu njëkk ci 30 fan ci yéene: Ci diiru 30 fan ginaaw biñu jotee "Yegle bu war ak fay" bu serwiis bi ginaaw bi waajur yi génnee àdduna, erreur yi wala executeur estate bi dañu wara yónnee Yegle bu njëkk ci Yéene (jëfandikoo template bi ci suuf) moomeel**, (B) Feye / Refinanse hypotheque biñ delloo ngir tëye kër gi ci famiy bi, wala (C) Def ab Deed-ci-Lieu of Foreclosure.
  • Palanteer bu 6 weer (180 fan ginaaw dee): Ci suufu 24 C.F.R. § 206.125(d), soo yëgalee serwiis bi ni danga bëgga jaay wala fay bor bi, am nga 6 weer yu njëkk ci bis bi ki lebal génnee àdduna ngir yeggali njaay mi wala refinance balaa ñuy mëna jeexal foreclosure.
  • ** Ñaari 90 fan HUD Extension (Weer 7 ba 9, ak Weer 10 ba 12):** Sudee kër gi jaaywul wala probate/refinancing mingi wéy ba leegi Weer 6 jegesi, joxeel benn laaj bu bind ngir **Yokkute HUD 90 fan bu njëkk laata 1 ba 5 deadline expires) boole ci firnde njaay bu am solo (Déggoob MLS buñ siñe ak ab agent immobilier WALA Demànd buñ siñe ngir leble / bataaxal buy njëkka nangu bu bawoo ci leblekat hypotek boole ci bataaxal testamentary). Soo ko soxlaa, mën nga ñaan Ñaareelu yokk HUD 90 fan, loolu dina jox sa njaboot 12 weer ngir jaay wala refinance.

2. Regle biy tere ñu baña fay "95% ci valeur biñ xayma" (24 CFR § 206.125(a)(2))

Bépp FHA-assuré HECM reverse hypotheque ** 100 pursaa Non-Recourse Loan **: amul yeneen alal yu leblekat bi génn àdduna (kontu bànk, assurance dundu, oto) wala erër yi ci seen bopp mën nañu ** musa ** teg seen bopp ci benn piyees bu ëpp kër gi ci boppam.

Lu gëna rafet, ci suufu 24 C.F.R. § 206.125(a)(2), sudee erër yi dañu bëgga ** tëye këru famiy bi ** (ci refinancing ko ci benn hypotek buñ miin ci turu xale bu màgget wala ñu fay xaalis) WALA ñu jaay ko ci marse bi sudee saldo hypotek bi dafa weesu valeur bi kër gi soxla ci jamono jii, de**:

  • 100% ci saldo HECM biñ lebal te kenn feyul, WALA
  • 95% ci valeur marché bu jaar yoon bu moomel bi, ni ko HUD santaane ci appraisal FHA.

Laaj ab appréciation bu HUD santaane ngir tëral sàrtu 95%

Bul musa nangu ab serwiis hypotek bu la wax ni "Sàrtu 95% dafay wax ci njaay yu gàtt yu nekk ci digante yeen, te du ci waa kër gi yor kër gi." Boobu politiku bànk bu yàgg, HUD dafa ko tere woon. Ci suufu 24 CFR § 206.125(a)(2)(ii), eer yiy tëye kër gi ci famiy bi am nañu sañ-sañu fay 95% ci valeur biñ xayma leegi. Soo bëggee jëfandikoo sàrtu 95%, laajal serwiis bi ci bataaxal mu komànde Njàngat Ofisiel bu HUD Death/Short-Sale (te doo fay dara ci sa poos).

Kopie-ak-paste modèle: HECM Default Cure, Sëy bu lebalwul, & Yegleb ndono

Markeel kaare bi méngoo ak sa dundu te nga yónnee bataaxal bii jaaraleko ci Mail buñ sertifiye, ñu laaj këyit biy delloo, fax, ak imeel ci serwiis hypotek bi.

URGENT: FORMAL HECM LOSS MITIGATION / OCCUPANCY / NON-BORROWING SPOUSE / HEIRS' NOTICE
(PURSUANT TO 24 C.F.R. PART 206, HUD HANDBOOK 4000.1, AND RESPA 12 C.F.R. § 1024.35/.38)

Date: [Insert Date]

TO: [Name of Reverse Mortgage Servicer, HECM Default / Loss Mitigation / Estates Dept.]
    [Servicer Address, Fax Number, and Email]

RE: HECM Loan Number: [Insert Loan Number] | FHA Case Number: [Insert FHA Case No.]
    Borrower(s) Name: [Name of Borrower]
    Property Address: [Full Street Address]

Dear HECM Servicing & Compliance Officer:

PLEASE TAKE FORMAL NOTICE of the following statutory election and request to suspend any "Due and Payable" acceleration or foreclosure referral on the above-referenced HECM loan (check applicable section):

[ ] SECTION A, CURE OF OCCUPANCY DEFAULT (24 C.F.R. §§ 206.27(c), 206.39):
    The Borrower continues to maintain the subject property as their Principal Residence (or has been temporarily absent in a medical/rehabilitation facility for LESS than 12 consecutive months since [Date]). Enclosed are (1) the signed Annual Occupancy Certification, (2) two current utility bills showing active residential service, and (3) a physician's statement confirming temporary medical absence. Demand is made to immediately recall any Due and Payable status and credit back any improper inspection fees.

[ ] SECTION B, REQUEST FOR TAX & INSURANCE (T&I) REPAYMENT PLAN OR AGE 80+ AT-RISK EXTENSION:
    Regarding the Corporate Advance balance of $[Amount] for property taxes and/or hazard insurance:
    (1) [If Borrower is Age 80+ with Health Hardship]: The youngest borrower is age [Age] (DOB: [Date]) and suffers from a critical medical condition documented in the attached Physician Certification. We request that you immediately submit an "At-Risk Extension" request to HUD under HUD Handbook 4000.1.
    (2) [For All Other Borrowers]: I request an immediate Financial Assessment and a [36 / 48 / 60]-Month HECM T&I Repayment Plan calculated at no more than 25% of monthly Surplus Income, and request an immediate stay of foreclosure referral while my application (and State HAF / Senior Tax Deferral application) is processed.

[ ] SECTION C, SURVIVING NON-BORROWING SPOUSE (NBS) DEFERRAL PERIOD (24 C.F.R. § 206.55 & HUD ML 2021-11):
    Borrower [Name] passed away on [Date of Death] (Death Certificate attached). I am the surviving Eligible Non-Borrowing Spouse. We were legally married at loan closing on [Date] and remained married until the Borrower's death, and I occupy the property as my Principal Residence. Pursuant to 24 C.F.R. § 206.55 and HUD Mortgagee Letter 2021-11 (or MOE Assignment for pre-08/04/2014 Case Numbers), I hereby invoke my statutory Deferral Period. Please send me the NBS Annual Certification package immediately.

[ ] SECTION D, HEIRS' / ESTATE NOTICE OF INTENT, APPRAISAL DEMAND, & EXTENSION REQUEST (24 C.F.R. § 206.125):
    Borrower [Name] passed away on [Date of Death]. I am the [Surviving Child / Executor / Successor in Interest] (Death Certificate and proof of heirship/authority attached).
    1) Notice of Intent: The Estate/Heirs hereby give formal notice of intent to [sell the property / purchase and retain the property via refinance] pursuant to 24 C.F.R. § 206.125.
    2) Demand for Payoff Quote & Official HUD Appraisal (95% Rule): Please provide an itemized payoff statement AND order an official HUD Fair Market Value Appraisal so that the Estate/Heirs may satisfy the HECM for the lesser of the unpaid loan balance or 95% of current appraised value under 24 C.F.R. § 206.125(a)(2).
    3) Request for 6-Month Hold & 90-Day HUD Extension: Please confirm the initial 6-month marketing/settlement window through [Date 6 Months from Death] [and grant a 90-Day HUD Extension based on the attached MLS Listing Agreement / Lender Pre-Approval Letter].

Sincerely,

____________________________________
[Your Signature]
[Your Printed Name, Relationship to Borrower, Address, Phone, and Email]

Hypotheque international buñ delloo (Equity Release) ñàkka fay & aar jabar wala jabar

Sudee yaw wala sa waajur bu mag danga yor benn hypotek buñ delloo ci bitim Etats Unis, sàrti yoon yi ak sàrti liggéeyukaay yi dañu tënk bu baax tëj leblekat bi ak ñàkka yamale:

  • Canada (CHIP delloosi hypotek / Bànk buy yegg ci kër & Bànk bu yelloo, amul gaaraati yelleef bu baaxul ak yelleefi jëkkër wala jabar):
  • Juuti, Assurance, ak Maintenance Defaults: Ci Canada, hypothèque yuñ delloo duñu soxla xaalis bu njëkk wala intere weer wu nekk, waaye boroom kër gi dafa wara tëye Juuti ci Moomeel, Assurance kër, ak Condo/Strata Fees ñu fay ko ba jamono. Sudee mag daanu ci ginaaw ci juuti gi ci moomeel, garab gi gëna gaaw ci gox yu melni British Columbia, Alberta, ak Ontario mooy nga ñaan Prograamu yeexal juuti ci moomeel mag ñi ci gox yi/municipaal yi, mooy fay juuti gi municipaal bi desoon ci leblekat bi mënul fay.
  • Faatu ki lebal & Palanteeru lijjantiku ndono: Sudee jëkkër ak jabar yépp a ngi ci titre bi (ni ko Canadien reverse hypotheque underwriting santaane), leble bi mënul am ba keroog ñaareelu jabar ji dee wala mu dem ci toppato bu yàgg. Su ki mujjee lebal génnee àdduna, xéewal yi/ër yi dañuy am 180 fan (6 weer) ngir fay leble bi jaaraleko ci njaay wala refinanse, ñu ànd ak kontraa Amul Garanti Equity Negative (ngir fexe ba xéewal yi duñu musa lebal lu ëpp li ñu jox ci marse bi).
  • Royaume-Uni (Mbootaay yiy dundu, sàrti konsilu génne xaalis, ndàmpaay ci diir bu yàgg ak sàrti FCA):
  • Equity Release Council (ERC) Kaaraange yi: Lu ëpp 90% ci UK Mortgage yiy dundu dañu topp Standard yu Konsilu Release Equity, loolu dafay garanti ñaari yelleef yuñ mënul waxaale: (1) Yelleefu des ci sa moomeel ci sa dundu wala ba nga toxu ci dëkkuwaay bu yàgg ak (2) No Negative Equity Guarantee (NNEG), loolu dafay tekki ni sudee ki mujjee lebal faatu wala mu dugg ci faju budul jeex, ba noppi ñu jaay kër gi ci njëg bi gëna xéewale, ki lebal wala xéewal yi duñu musa fay. njëgu kër gi.
  • 12-Weer Palanteer ngir Executeurs: Su dee wala dugg permanent ci këru toppatoo bi mujjee mucc, UK Lifetime Mortgage lenders dañuy faral di jox executeurs / heirs 12 weer ngir marse ak jaay moomel balaa ñuy jël matuwaayi doolel. Sudee leblekat bi daf lay tiital ni dina la ko jëlaat ndax defar sa moomeel wala assurance tabax, defal plainte bu mat sëkk ci sàrti FCA MCOB te nga yóbbu ko ci Serwiisu Ombudsman Financial (FOS).
  • Australie (Sàrt yi amul benn garanti bu baaxul ci wàllu yoon ci wàllu NCCP & Serwiisu Australie "Sàrt buy yegg ci kër"):
  • Sàrt buñ tëral te amul benn garanti bu baaxul (18 septembre 2012 ba leegi): Ci wàllu Sàrtu Aar Leble bu Réew mi ci 2009 (Kodu Leble bu Réew mi Section 86A ba 86F), bépp hypotheque buñ def ci Australie ci 18 septembre 2012 wala ginaaw bis 18 septembre 2012. Garanti**, yoon federal dafa tere lebalkat bi sàkku wala jot lu ëpp valeur marché bu moomel biñ delloo ginaaw su leble bi jeexee (bamu dess sudee dafa def njuuj njaaj wala yàqu-yàqu ci moomel).
  • Yelleefi dëkk kat bu amul këyit buñ aar: Ci sàrtu leble bi, sudee ki lebal tànn ci ndoortelu leble bi ngir tànn Dëkk kat bu amul këyit (lu melni jabar/jekker wala jabar/jekker), dëkk kat biñ aar amna yelleef ci yoon ngir wéy di dëkk ci kër gi mu lebal wala ginaaw bimu leble fasilite. Rax ci dolli, sudee ab hypotek buñu delloo ci kër gi mënul fay wala dafay sàkku xaalis bu bari ci jënd ak jaay, mag ñi mëna am Pension Age mën nañu fayee ab hypotek buñu delloo ci kër gi ci nguuru Australie bi amul intere yu néew. mën nañu ko def ci saasi ci joxe plainte ci Bañkat bi yor plainte ci wàllu xaalis ci Australie (AFCA).

Laaj yi ñuy faral di laaj

Can the reverse mortgage company take my parents' house just because they owe $2,800 in overdue county property taxes?

While failing to pay property taxes is technically a default under the HECM mortgage agreement, HUD strictly discourages foreclosures over small balances. Under HUD Single Family Housing Policy Handbook 4000.1, if the total corporate advance (the amount the servicer paid on your parents' behalf for back taxes and insurance) is under HUD's de minimis threshold (typically $2,000 to $5,000), the servicer is permitted to delay calling the loan Due and Payable. Even if the balance is over $5,000, your parents have the right to request a 12-to-60-month HECM Repayment Plan (paying only 25% of their monthly Surplus Income), apply for a county Senior Property Tax Deferral/Exemption, or, if the youngest borrower is age 80 or older with a serious health condition, obtain a renewable 1-year HUD "At-Risk Extension" that stops foreclosure completely.

If my parents' reverse mortgage balance is $400,000, but the house is only worth $280,000 after they pass away, do I (as the heir) owe the bank the missing $120,000?

No, never. Every federally insured HECM reverse mortgage is a 100 percent Non-Recourse Loan under 24 C.F.R. § 206.27(b)(8). Neither you, your siblings, nor your parents' other estate assets (such as their bank accounts, IRAs, or life insurance policies) can ever be touched to pay a reverse mortgage shortfall. Even better, if you want to keep the family home instead of letting it go, 24 C.F.R. § 206.125(a)(2) allows you to buy/refinance the house and pay off the entire $400,000 reverse mortgage for just 95 percent of its current HUD-appraised fair market value (95% of $280,000 = $266,000), and FHA's Mortgage Insurance Fund absorbs the remaining $134,000 loss.

Why did the reverse mortgage servicer freeze my parent's reverse mortgage Line of Credit when they still have $60,000 of unused credit left?

Under 24 C.F.R. § 206.205(e), if a borrower fails to pay their property taxes or homeowners insurance on time and the servicer is forced to make a "Corporate Advance" out of its own funds to pay the county tax collector or buy force-placed insurance, the servicer is required by HUD rules to first withhold the unpaid tax/insurance amount from your parent's available HECM Line of Credit (or monthly tenure payments), and if the line of credit is exhausted or the loan is placed into formal T&I default status, the servicer freezes future draws from the Line of Credit until the tax and insurance default is cured or placed onto an approved HECM Repayment Plan.

Should I sign a "Deed-in-Lieu of Foreclosure" if we do not want to keep our deceased parent's underwater house?

If the reverse mortgage balance is far higher than the home's market value and no family member wants to buy the house for 95% of its appraised value, signing a "Deed-in-Lieu of Foreclosure" is often the cleanest way to walk away, and servicers frequently pay $1,500 to $5,000 in relocation assistance under HUD guidelines if you leave the property broom-clean. Before signing a Deed-in-Lieu, always check a real estate valuation first: if the house is worth MORE than the reverse mortgage balance, sell the house on the open market instead so your family keeps 100 percent of the remaining equity after the reverse mortgage is paid off.

Saytu nañu ay balluwaay

  • **NU. Departemaa bi yor dëkkuwaay ak yokkute ci dëkk yu mag yi (HUD, Etats Unis): ** Reglemaasioŋ yiñ tëral ngir soppi xaalis biy dugg ci dëkkuwaay yi (HECM) (24 C.F.R. Wàll 206, boole ci § 206.27 sàrti dëkkuwaay yu mag yi, § 206.55 Diiru yeexal ngir ñiy yelloo jënd, &72 § 206.125 Regle bu 95% ci payoor ak 6 weer/90 fan ngir yokk waxtu yi, ak § 206.205 Njëg yi ci moomeel).
  • NU. Departemaa bi yor dëkkuwaay ak yokkuteg dëkk yu mag yi (HUD/FHA): Téere politiku dëkkuwaay bu benn njaboot 4000.1 (Titre II Prograami dëkkuwaay yuñ assuré ci kanam ak ci ginaaw, HECM wàññi ñàkkaale, palaŋu fayyu 60 weer, De Minimis T&I A-00 Extensions), Bataaxelu Hypotheque 2019-15, ak Bataaxelu Hypotheque 2021-11 (Yaatal Aar Sëy bu Leblewul ak Dindi 90 Fan Titre Marketing Requisite).
  • Biro biy Aar Xaalis Konsomatër yi (CFPB, Etats Unis): Njëfandikoo yi ñuy jëfandikoo ngir saytu liggéey bi ñuy jëfandikoo ngir jënd kër, RESPA mooy wuutu sàrti intere yi (12 CFR § 1024.30(d) ak § 1024.38(b)(1)(1) Sa yelleef ak say wareef (Gidu konsomatëru CFPB).
  • Agence Financière du Consommateur de Canada (FCAC): Delloosi leble yi ci Canada: Waajiku ki lebal te amul benn gaaraati njub.
  • Bañkat bi yor doxalinu xaalis (FCA) ak konsilu génne xaalis (Royaume-Uni): MCOB 8 & 9 (jëfandikoo alal: Njàngale ci digal ak jaay) ak Konselu génne alal ci sàrti produit (Yelleef ngir des ak amul benn gaaraati alal bu baaxul).
  • Komisioŋu Australie buy saytu kaaraange ak dugal xaalis (ASIC / Moneysmart) ak ay serwiis Australie: *Sàrtu Aar Leble Konsomatër bu Réew mi 2009 (Kodu Leble bu Réew mi Wàll 86A ba 86F.

Gid yu jëm ci loolu