18.104.22.168 Home Disposition Options
Borrowers in disaster areas may also take advantage of the home disposition options of pre-foreclosure sale or deed in lieu of foreclosure it they meet the following conditions:
- • The mortgage must be current or fewer than thirty days past due as of the date of the disaster declaration;
- • The mortgagee must obtain from the borrower a recent pay stub for income, W-2, bank statement, or other documentation reflecting the amount of income; and
- • The property was owner-occupied.202
202 U.S. Dep’t of Hous. & Urban Dev., FHA Single Family Housing Policy Handbook 4000.1, III.A.2.n.iv.H, Home Disposition Options.