This is a sample notice of error and request for information (pursuant to RESPA regulations). The homeowner with a reverse mortgage agreed to an installment payment agreement to catch up on back-due property taxes but the lender rejected the homeowner’s payments. The notice also requests a waiver to allow a new repayment plan and requests information about the mortgage and repayment plan.
This is a notice of error and a request for information, pursuant to RESPA, concerning the homeowner’s request for an at risk exemption from a reverse mortgage foreclosure. Errors include in requiring the homeowner to be conserved in order to renew her At-Risk Extension and avoid foreclosure and in refusing to recognize the homeowner’s durable power-of attorney. The letter also requests information from the lender relevant to the request of ran at risk exemption.
This is a sample letter to the homeowner’s doctor asking for a medical opinion relevant to preventing foreclosure of a reverse mortgage. The homeowner may be eligible for an “At Risk Exemption” from HUD for homeowners ages 80+ with “substantiated long-term physical disability.” To qualify for an At Risk Extension it is necessary to have a signed doctor’s letter regarding the client’s condition.
This is a sample request that the lender submit to HUD an at-risk extension and refrain from a foreclosure on a reverse mortgage (as permitted by FHA Mortgagee Letter 15-11), based on the homeowner’s medical condition. This HUD exemption from foreclosure applies for homeowners ages 80+ with “substantiated long-term physical disability.”
This is a sample letter asking for an At Risk Extension on a reverse mortgage based on a long term physical disability. This can prevent foreclosure for homeowners ages 80+ with “substantiated long-term physical disability.”
This questionnaire is found at the online version of this appendix as a PDF file. In addition, the online version of this treatise under “Practice Tools” contains the questionnaire in Microsoft Word format both in English and Spanish. Use the PDF file if you wish to reprint the questionnaire in English, and the Word format if you want to edit the document using your word-processing program or to print the Spanish version. Unfortunately, the Spanish version has not been updated in a number of years and the English version is more current.
This is a excel spreadsheet allowing calculations of the tender amount when rescinding a series of loans by the same creditor. When you need to rescind a loan and that loan refinanced a prior loan originated by the same creditor, only the new advances in the newer loan may be rescinded. This spreadsheet walks you through the steps for determining whether there were any new advances and, if so, how much the borrower must tender on that loan and the previous loan.
This is an example of a TALC calculation. Reverse mortgage creditors must disclose the total annual loan cost (TALC) rate—the projected annual average cost of the credit, including all itemized costs, expressed as a percentage rate. The TALC rate is a single rate that includes all costs and affords an apples-to-apples comparison between reverse mortgages.
This is a listing of recent pleadings related to second mortgage foreclosures and zombie debt—mortgage debt assumed to be cancelled many years ago, but only now being enforced by a debt buyer.
This is a fillable form for the master promissory note (MPN) used for Federal Direct PLUS Loans. It is current through July 31, 2022. It includes the terms and conditions for the loan.