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Can you tell me where to find a good accurate Homeownership Counseling Notice?

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Can you tell me where to find a good accurate Homeownership Counseling Notice?
Answer: 

Here's an excerpt from our Advanced Lending compliance manual:

Homeownership Counseling
[Section 106(c)(5) of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701x)]
The Homeownership Counseling Act requires Financial Institutions to notify past due borrowers of the availability of homeownership counseling. This section applies to all loans (regardless of purpose) secured by a property which is the principal residence of the borrower except:

1. Loans guaranteed by the Department of Veterans Affairs, or
2. Any amount overdue paid before 45 day period.

Content of the notice:
Prior to a borrower becoming 45 days past due, the bank must provide a notification to the borrower which contains:
1. The HUDapproved nonprofit homeownership counseling organization, or
2. The HUD toll free telephone number (8005694287) where the homeowner can obtain a list of HUD approved nonprofit organizations that serve the homeowners area.

Suggested wording for 30 day past due notice:

By placing the following wording or similar wording on the 30 day past due notice the requirements of Homeownership Counseling are satisfied:

"You may call 8005694287 to obtain a list of HUD approved nonprofit organizations that can provide homeownership counseling to you."
First published on BankersOnline.com 10/21/02

First published on 10/21/2002

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