24 CFR §221.761 — Forbearance relief

fha-24cfr-221-761

HUD / FHA Multifamily · a federal regulation, 24 CFR Part 221, Subpart D—Contract Rights and Obligations—Moderate Income Projects. It governs FHA's multifamily programs, not the Single Family Housing Policy Handbook 4000.1. Text as of eCFR 2026-10-09.

24 CFR §221.761, Forbearance relief. An FHA multifamily program rule in Subpart D—Contract Rights and Obligations—Moderate Income Projects of 24 CFR Part 221 (Low Cost and Moderate Income Mortgage Insurance—Savings Clause).

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Verbatim regulatory text (3)

Verbatim provisions from 24 CFR §221.761 — Forbearance relief — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

24 CFR §221.761(a)

(a) In a case where the mortgage is in default, the mortgagor and the mortgagee may enter into a forbearance agreement for the reduction or suspension of regular mortgage payments for a specified period of time, if the following requirements are met: (1) The mortgage was endorsed for insurance on or after July 7, 1961. (2) The Commissioner determines that the default was due to circumstances beyond the mortgagor's control and that the mortgage probably will be restored to good standing within a reasonable period of time and evidences such determination by written approval of the forbearance agreement.

Source: 24 CFR §221.761(a) · source URL · snapshot 12b66707ff4f8473

24 CFR §221.761(b)

(b) The time specified in § 207.258(a) of this chapter, within which a mortgagee shall give the Commissioner written notice of its intention to file an insurance claim, shall be suspended for the period of time specified in the forbearance agreement as long as the mortgagor complies with the requirements of such agreement.

Source: 24 CFR §221.761(b) · source URL · snapshot 12b66707ff4f8473

24 CFR §221.761(c)

(c) If the mortgagor fails to meet the requirements of a forbearance agreement or to cure the default under the mortgage at the expiration of the forbearance period, and such failure continues for a period of 30 days, the mortgagee shall notify the Commissioner of such failure. Within 45 days thereafter, unless a modification or extension of the forbearance agreement has been approved by the Commissioner, the mortgagee shall notify the Commissioner of its election to file an insurance claim and of its decision to either assign the mortgage to the Commissioner or to acquire and convey title to the property to the Commissioner. If the mortgage is assigned to the Commissioner, the special insurance benefits prescribed in § 221.763 shall be applicable.

Source: 24 CFR §221.761(c) · source URL · snapshot 12b66707ff4f8473

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Source of record: https://claudeforcompliance.com/regs/fha-24cfr-221-761/ · register fha-24cfr-221-761 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.