I've seen it posted several times that the HEA prevents gov't guaranteed loans from being "goodwilled" into forgiving lates, BUT, I've not been able to find that int he texts! Does anyone know what section of which amendment that particular bit might be??
I DID find that the lender MUST report a rehabbed loan as no longer in "default" ... but in regards to forgiving lates, I didn't see anything on that!!
Does anyone know? TIA!!!
I DID find that the lender MUST report a rehabbed loan as no longer in "default" ... but in regards to forgiving lates, I didn't see anything on that!!
Does anyone know? TIA!!!