Deferral Period (applicable to HECMs only)

Deferral Period (applicable to HECMs only)

A Deferral Period refers to the period of time following the death of the last surviving Borrower for a HECM with an FHA case number assigned on or after August 4, 2014, during which the Due and Payable status of a HECM is deferred for an Eligible NBS or Eligible Surviving NonBorrowing Spouse provided that the Qualifying Attributes and all other FHA requirements continue to be satisfied. Delinquent A Mortgage is Delinquent any time a Mortgage Payment is due and not paid. Detached Condominium Housing Project (DCHP) A Detached Condominium Housing Project (DCHP) refers to a Condominium Project that has owned and maintained by the homeowner.