The following table provides the requirements for a repayment plan based on the mortgage loan's delinquency status at the time of evaluation and the duration of the repayment plan.
|If, at the time of evaluation, the mortgage loan is …||Then…|
|Less than or equal to 90 days delinquent and the term of the repayment plan does not exceed six months||
|Greater than 90 days delinquent or the term of the repayment plan exceeds six months.||
Note: The borrower may make a payment that is sufficient to bring the arrearage within eligible parameters.
To see the requirements that apply to repayment plans click here.
For more information please see: D2-3.2-02, Repayment Plan.