Transcription of Section C. Borrower Secondary Financing Overview
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Section C. Borrower Secondary Financing Overview
HUD 5, Section C5-C-1 Section C. Borrower Secondary FinancingOverviewIn This SectionThis Section contains the topics listed in the table NameSee Page1 General Information on Secondary Financing5-C-22 Government Agency Secondary Financing5-C-43 Nonprofit Agency Secondary Financing5-C-74 Organizations and Private Individuals ProvidingSecondary Financing5-C-105 Family Member Secondary Financing5-C-126 Secondary Financing for Borrowers 60 Years ofAge or Older5-C-16 Chapter 5, Section CHUD General Information on Secondary FinancingIntroductionThis topic contains general information on Secondary Financing , including a definition of Secondary Financing Secondary Financing documentation requirements, and references for permissible sources of Secondary DateNovember 19, ofSecondaryFinancingAny Financing other than the first mortgagethat creates a lien against theproperty is considered Secondary Financing .
Mortgage Application Disclosures The source, amount, and repayment terms must be disclosed in the mortgage ... junior lien from the nonprofit agency, may not result in cash back to the ... permit repayment by the borrower, without penalty, after giving the lender 30 …
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