FHA Temporarily Waives HECM Eligible NBS Requirement Due to COVID-19
By EsqSocial Corporation 24/10/20
In connection with FHA-insured HECM loans, due to COVID-19, FHA recently announced a temporary partial waiver and a corresponding housing directive waiver of the deferral period requirement that an Eligible Non-Borrowing Spouse (Eligible NBS) must, within 90 days from the death of the last surviving borrower, establish legal ownership or other ongoing legal right to remain for life in the property securing the HECM. ......
By: Weiner Brodsky Kider PC