HUD Articles
HUD Extension Procedure and Explanation
September 23, 2023
Contract Extension Policy and Procedure: The buyer must not let the contract expire, as it is a fatal event and HUD will cancel and not allow reinstatement. The buyer is required to process the extension request even if the delay is due to a title issue or other seller issue. All extensions are now done via DocuSign. The broker/agent should send HUD the reason for the extension requests along with either updated proof of funds or lender letter with the status of the loan. HUD then reviews to determine fees if any and will generate a DocuSign extension if appropriate.
Email to Kate Connor KConnor@kmmrealty.com and assetmanagement@kmmrealty.com
