HUD has released Mortgagee Letter 2006-21 titled "Extension of Time for Disaster Victims of Hurricanes Katrina, Rita and Wilma to apply for Section 203(h) Mortgage Insurance".

Currently, the application for mortgage insurance under Section 203(h) is required to be filed within one year after the Presidential declaration of the disaster.

Because of the unprecedented extent of destruction caused by Hurricanes Katrina, Rita and Wilma, HUD has determined that the one year period is insufficient to meet the housing needs of the hurricanes' victims.

With this Mortgagee Letter, HUD announces that all disaster victims affected by these three hurricanes have until September 30, 2007 to file an application for mortgage insurance under Section 203(h).

Any questions regarding this Mortgagee Letter should be directed to 1-800-CALLFHA. (1-800-225-5342)

To view the Mortgagee Letter in its entirety, please click on the following link.

ML 2006-21