Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the collection process on a Partial Claim that is not collected from the mortgagor at the time the mortgagor pays off their FHA first mortgage?

April 26, 2017claim collected collection FHA mortgage mortgagor partial pays process time

0

Posted

What is the collection process on a Partial Claim that is not collected from the mortgagor at the time the mortgagor pays off their FHA first mortgage?

1 Answer

0

Posted

The collection process on a Partial Claim that is left unpaid at the time the mortgagor pays off their FHA first mortgage is the Department bills the mortgagor directly. The Partial Claim debt is not forgiven and the mortgagor is required to make a lump sum payoff.