COVID-19: What options are available to a Borrower who is delinquent on their Title I Property Improvement or Manufactured Home Loan as a result of the COVID-19 National Emergency?

If you are delinquent on your Title I Property Improvement Loan or Title I Manufactured Home Loan, it is important to contact your Title I Lender to explore the available servicing and loss mitigation options to assist with bringing the loan current.  These options may include:
  • mortgage modification;
  • refinance;
  • repayment plan;
  • assumption; and
  • waiver of late charges and other fees.

The Title I Lender may provide a forbearance as needed to arrange repayment plans or modification agreements that would bring the loan current.
 
For a mortgage modification plan, the plan may allow for skipped payments or reduced payment amounts that increase over time, to ensure the delinquent or defaulted loan is brought current before the end of the loan term.  A mortgage modification plan must not increase the loan term or interest rate. 
 
All requests for information or clarification related to Title I servicing and loss mitigation options should be directed to your Title I Lender.
 
You may also wish to contact a HUD-approved housing counseling agency in your area for unbiased counseling on your particular situation.  HUD-approved housing counseling agencies may be located:

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-05510