Attachment 3a/3b - Prepayment Format / Prepayment Approval Letter Format (Page 2 of 2) in pdf

Attachment 3a/3b - Prepayment Format / Prepayment Approval Letter Format Page 2

Attachment 3B

Prepayment Approval Letter Format

Where HUD Must Approve The Prepayment

(format only - for local use)

Dear ___________________________:

This is to notify you of Headquarters approval of your application of _______________

requesting to prepay your Section 202 or 202/8 project (name) ________________, (SH/EH Number)

______________________, (Section 8 number where appropriate) ________________, (address)

_____________________________________________________________________________

_____________________________________________________________________________.

Please work with your housing project manager (HPM) to sign the new HAP agreement (if

appropriate), record the Use Agreement, and complete the financial transaction. Return the documents to

your HPM before the date of final prepayment.

[Add appropriate paragraph on Mortgage Insurance.]

The prepayment amount for this project is ____________________.

The prepayment amount includes ______________ for repayment of a Flexible Subsidy

loan.

Prepayment by certified check should take place on or before ________________.

Please provide this Office with a copy of the recorded Use Agreement and confirm that payment

by certified check has been provided to ______________________ or hand-delivered to

____________ as appropriate.

If one or more of the above dates are not met, Hub/PC staff will assume that the you are no

longer interested in prepayment, and will stop the process.

Sincerely yours,

Hub/PC Director

Attachment 3a/3b - Prepayment Format / Prepayment Approval Letter Format Page 2